Daily
The EUR/JPY rate has fixed below the correctional level of Fibonacci 50.0% and fell towards correctional level of 38.2% - 100.73. No candlestick formation was built during the week. From correctional level of 38.3% the rebound is possible. If this happens, the rate will try to grow towards Fibonacci 50.0% - 102.79. Quotes fixation below 38.2% Fibonacci will intensify the expectations of quotes drop towards Fibonacci 23.6% - 98.21. Bullish formation will support the probable EUR/JPY rebound from Fibonacci 38.2%. We should note that it is not clear now if there is going to be a rebound from 38.2% Fibonacci or not.
4h
On 4H time frame EUR/JPY ignored Fibonacci 100.0% - 101.61 once again. After bearish formation Hanging Man was built, the quotes dipped below Fibonacci 100.0%. Thus, the rate may fall further towards correctional level of 76.4% - 99.83. Bearish formation Absorption indicated the likelihood of rate drop on Thursday. Bullish candlestick formation may help the pair to return to Fibonacci 100.0%. Now we should pay more attention towards candlestick formations that signify about growth change and quotes fall.вок.
