EURJPY is forming a sideways pattern that looks like an inverted H&S reversal pattern. If this assumption is correct the right shoulder is in the making, which means that a move at 128.60 area is possible. We will try this scenario with long positions at current levels setting the stops below 128.75. As you can see at the daily chart that follows, it is possible that a larger right shoulder is in the making. The daily close will give us more indications.