EURJPY Chart Technical Outlook competing patterns offer mixed signals
The daily chart highlights the potential of a butterfly formation completing at 167.56 (bullish). The intraday chart highlights the potential of a bat formation completing at 155.76 (bearish). With the scope for Bank of Japan intervention, my preferred setup (if I had to trade, and I’m sure GBPJPY) would be to the downside. It also offers a good risk-reward setup.
