Today, we do have the ECB rate decision, so maybe it would be better to stay away from the common European currency. That is why, I have two setups with the JPY. First one is the USD/JPY, where the price created a head and shoulders pattern but failed to break the neckline. It was not easy though. The neckline was on the long-term up trendline. With this bounce, we do have a positive sentiment here.
Quite the opposite can be seen on the NZD/JPY, where we still have a negative situation. Here, the price managed to break the neckline. Today's upswing is just a normal pull-back , which will test the recent support as a resistance. As long as we are below the neckline, the sell signal is on.
OK, we cannot resist not to mentioned the EUR/GBP, especially with the setup like this one. EUR/GBP bounced from a horizontal resistance and the mid-term down trendline. They did that with a flag pattern and a double top formation. That is enough to go short here!