EUR/JPY Downside Bias Intact!
The EUR/JPY pair is trading lower at the time of writing. The price drops within a down-channel pattern. It could extend the downwards movement as long as it stays below the downtrend line under the channel's upside line.
128.41 - 128.25 area, the former lows, is seen as downside obsatcles. The price started to grow from around these levels.
EUR/JPY Trading Conclusion!
The currency pair could extend its downside movement if it drops below 128.25. The channel's downside line represents an important downside obstacle.
Staying above the demand zone, above the former lows, and jumping above the downtrend line could announce an upside reversal.
