FX.co ★ jerome82 | EUR/JPY

EUR/JPY. Good afternoon. EUR/JPY closed the current week with a bearish candle, and there is a possibility of seeing a decline next week as well. Moreover, I'm considering the scenario of a broader move lower, especially since such a picture is beginning to emerge on the weekly timeframe chart. On the smaller-timeframe technicals, on the hourly chart the indicators remain in favor of further decline, and the pair closed within a local consolidation, so practically from the open on Monday one can expect a continuation of the decline; the next target is 178.15-20 in the short-term. But in any case, it will be necessary to wait for this signal to trigger. On the 4-hour chart the indicators also produced a new sell signal near the close, but it has not been activated yet. At the same time, the Bollinger Bands have begun to widen, so there is a chance to see the current downward impulse develop. And the daily chart also indicates the likelihood of a new wave developing to the downside.