We have had a week of rest bite for most currencies as the dollar eases of its bullish pressure.
As we look ahead to next week, we can see multiple patterns emerging for potential euro weakness which may provide shorting opportunities on EUR/JPY for a bearish leg to the downside. Obviously we will need confirmation of the counter trend ascending line breakout and closure along with a momentum shift back to the downside.
Potential targets for the downside are seen near 131.50 which also lines up with the daily 200MA. We would also need USD dominance to take over once more to drive the price down on this pair.
As we look ahead to next week, we can see multiple patterns emerging for potential euro weakness which may provide shorting opportunities on EUR/JPY for a bearish leg to the downside. Obviously we will need confirmation of the counter trend ascending line breakout and closure along with a momentum shift back to the downside.
Potential targets for the downside are seen near 131.50 which also lines up with the daily 200MA. We would also need USD dominance to take over once more to drive the price down on this pair.