EURJPY Breakdown: future Head and Shoulder-pattern
The head and shoulders pattern is based on the trendchannel EUR/JPY is trading in right now, and on Fibonacci retracement levels serving as support/resistance. Other supports are double bottoms/tops. Upside target before the end of the week is 136.00, after which price could advance to a maximum of 136.253 (161.8% fib) before declining to the first Fib retracement level of 135.366.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.