EUR/JPY Challenging 162.21 Downside Obstacle!
The EUR/JPY pair dropped again and now is located at 162.19 at the time of writing. Technically, escaping from the up channel pattern and dropping below the former low of 162.80 activated more declines.
After its strong drop, the rate rebounded today and it was almost to reach 162.80 (downside obstacle turned into an upside obstacle). Now, it has reached the former low of 162.21 which represents a downside obstacle.
EUR/JPY Outlook!
Dropping and stabilizing below 162.21 may announce more declines. This scenario could bring us new selling opportunities.
