The EUR/JPY has formed a T2 pattern and it could be going lower. However, in order to proceed 130.30 should be broken first
The EUR/JPY rejected from both W H4 and W H3 pattern, and we can see the T2 pattern formed close to W Cm pivot. The price has formed a triple bottom so the continuation below 130.30 must happen in order for the pair to proceed further down. As long as it is kept below 131.15, the pair is bearish. Targets are 130.13 and 129.70. Watch for potential bounce once the price gets to 129.70.
Nenad Kerkez aka Tarantula FX