EUR/JPY Technical Analysis

Looks like a roof top pattern
The break below the trendline is bearish
New lower low should come into play

Order block zone
Rally High
Break below the trendline
Target 1
Target 2

The price is in downtrend. Seems like we are in risk off mode. Duringﾂ the 100% risk off sentiment: 1.Gold up 2.Commodities prices down 3.Equities down 4.Yen strengthens as a result This happens because the Japs can get cheap credit, so they invest overseas heavily. When its risky, they bring the money back creating demand for Yen and vice versa, when its bullish Equities, they pump their money overseas, which means they sell Yen and buy foreign currency. At this point Yen is getting stronger. Expectation is that the pair should be moving towards 131.37 and 130.66 respectively.