EUR/JPY Bearish Move As SHS Pattern Progresses

Technical analysis of Forex market

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.

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