Daily
EUR/JPY has built bearish candlestick formation Harami and tried to make a swing towards yen but did not manage to do so. The rate overcame Harami candlesticks, that is why this pattern is of no importance for now. As the result the quotes may extend towards correctional level 38.2% - 100.71 Fibonacci. If the pair fixes above this level, EUR/JPY may reach the correctional level of 50.0% - 102.76 Fibonacci. Moreover the pair still can demonstrate a reverse and rebound from correctional level 38.2%. In this case, the quotes may fall to 23.6% - 98.15. Building of bearish candlestick formation will enhance the expectations of a rebound.
4h
On 4-H time frame the rate has fixed above Fibonacci level of 76.4% - 99.84 due to Absorption. As the result, the growth may extend towards correctional level of 100.0% - 101.61. Another bearish candlestick formation may help the pair to make a short-term swing towards yen and go to the downside, probably, to 76.4%. But currently, such combination is not observed. Fibonacci 38.2% - 100.71 resistance level may prevent the pair from growth.
