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The euro marches decisively towards the neckline of the head-and-shoulders, though it is facing solid resistance around 134.77. A positive market mood in the FX space decreased appetite for safe-haven peers. EUR/JPY Price Forecast: The head-and-shoulders pattern remains intact, as the exchange rate remains below 135.25. The shared currency stays defensive vs.
EUR/USD bulls take control and target the M-formation's neckline. A 50% mean reversion is on the cards for the sessions ahead. The US dollar is down slightly on Monday after hitting a 20-year peak last week, which is giving the euro bulls some relief and the price moves higher in a correction of the latest bearish impulse.
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