The EUR/JPY has formed a bearish M pattern and the 4h close below 117.55 is targeting lower levels.
The EUR/JPY should proceed further down if the price makes a close below Wizz 2. 1 2 3 Bearish M pattern has been formed. JPY strength is obvious vs EUR and USD and we can see the targets. Below 117.55 watch for 117.34 W L4 camarilla then 117.01 and 116.70-63 as the final targets. As long as the price is kept below 118.50 bears have nothing to worry about.
The analysis has been done with the CAMMACD.MTF template.
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Many green pips,
Nenad Kerkez aka Tarantula FX