EURJPY has broken through the support line of a Channel Up technical chart pattern. Because we have seen it retrace from this line in the past, one should wait for confirmation of the breakout before taking any action. It has touched this line twice in the last 11 days and suggests a possible target level to be around 161.3536 within the next 2 days.
There is a possibility of a big movement on EURJPY after a breach of the support
