EURJPY was identified at around 172.4435 having recently rebounded of the resistance on the 30 Minutes data interval. Ultimately, the price action of the stock has formed a Channel Up pattern. This squeeze may increases the chances of a strong breakout. The projected movement will potentially take the price to around the 171.9701 level.
After testing the support line numerous times, EURJPY is once again approaching this line. Can we expect a bearish trend to follow?
