Daily
The EUR/JPY pair has consolidated above the level of correction 100.0% - 111.43 of Fibonacci, a bullish harami candlestick was formed. It allows us to consider the continuation of growth towards the level of 161.8% - 122.11 of Fibonacci. The bullish harami candlestick increases the possibility of the quotes to rise. Building of bearish candlestick pattern may enable the pair to swing towards the yen and start falling to the level of correction 100.0% of Fibonacci. Consolidation of the rate above the level of correction 161.8% enables the pair to continue growing to the next level of Fibonacci 200.0% - 128.71. A rebound from the level of 161.8% of Fibonacci enables the pair to turn in favour of the yen and start dropping.
4h
After the rebound from the level of correction 323.6% - 114.08, the rate rose to the level of correction 423.6% - 118.27 of Fibonacci. Consolidation of the pair above that level enables the pair to continue growing to the next level of correction 523.6% - 122.43. Building of a bearish shooting star candlestick enables the pair to swing to the yen and may coincide with a rebound from the level of correction 423.6%. This rebound allows the pair to swing to the yen and start falling to the level of correction 323.6% - 113.96. Formation of bullish candlestick pattern increases the possibility of the rate to consolidate above the level of 423.6% of Fibonacci.
