>> The EUR/JPY formed an ascending trend line along with the inverted SHS pattern. A close above the M H3 camarilla pivot suggests a further bullish pressure. <<
A close above 130.65 is needed in order for the EUR/JPY to proceed further up. Inverted SHS pattern implies a continuation move towards 132.02 and 132.34 targets. Recent reports have indicated that the Bank of Japan (BOJ) may re-adjust their policy settings at their next meeting might weigh somehow on the JPY so the EUR/JPY could fundamentally go up too. Technically, we need a close above 130.65 that is the signal for a long trade.