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EUR/JPY Bearish Move as SHS Pattern Progresses

Nenad Kerkez

Dear Traders,

The EUR/JPY shows bearish continuation signs. The price is very bearish as the shoulder-head-shoulder pattern progresses.

We can see on the chart a giant head and shoulders pattern. 117.50 zone is the bottom of the right shoulder and we should see a move lower. The 4h timeframe shows a clear bearish momentum too where 116.60 is support. This is the final target for the intra week swing move. A close below 116.60 and the price will continue to 116.00 and lower.

The Analysis has been done with the CAMMACD.Core and Sit Systems

This article was originally posted on FX Empire