Possible short entry on the EUR/JPY

The Euro has retraced quite well versus the Yen and it is reaching the 135.00 level from where it may try to bounce to the downside. It was expected to see a retracement on this pair, due to the fact that it was dropping rapidly since the beginning of today’s session. But once the price reached the 134.00 zone, it consolidated there for a while and formed an inverted Head-and-Shoulders pattern on the 15 minute chart. The pattern was completed perfectly and the price changes direction to the upside, now the 135.00 level may act as resistance.