EURJPY is ready to resume its upward trend, according to David Sneddon and his team at Credit Suisse in London.

Sneddon says EURJPY looks to be ending its high-level consolidation for the completion of a near-term bullish continuation pattern (see Chart). With an existing large head-and-shoulders base in place, his bias remains higher for the measured objective at 128.67/70, as well as the 61.8% retracement of the 2018 to 2020 fall.

See Chart.