EURJPY Good day! On the M15 chart, the linear regression channel has turned upwards, indicating the efforts of buyers who are aiming to rise towards the level of 184.630. There is an opportunity to buy. Of course, it would be better to wait until the H1 linear regression channel also turns north. Therefore, I will be cautious with my purchases. I am buying from the lower boundary of the channel at 183.677. I am monitoring the sales, which may go below 183.677 with a confirmation; if this happens, I will stop buying. There is a high probability of continued selling according to the H1 trend. The buyer will not only try to work out the level of 184.630 but will also try to secure it above to shift the trend in their favor. If they succeed, buying can continue.
Looking at the hourly chart, I see that the linear regression channel is pointing downwards, which is more important to me than the M15. This means that the bears are strong, and the fact that the M15 chart signal indicates buying shows the presence of a strong buyer in the market. I need to wait for the price to reach the right place and then look for a sell from there. The place where I will look for sales is the upper boundary of the channel at 184.630, from where I should sell to the lower boundary of the channel at 183.019. Upon breaking the target level, further decline can be expected, but most likely after a top correction, as a bearish move will be established, and the bulls will try to regain their momentum. If the level of 184.630 is passed by the bulls, it is a sign of bullish interest, making sales unprofitable, so they are canceled with a reassessment of the market situation.
