EURJPY Up Move After Bounce on Trendline in Channel

Jun 25, 2015

If you have drawn a channel as seen above in the EURJPY, you can see that the pair has came back down to retest the bottom trend line of the channel. It formed a bullish low test, signaling an upwards continuation. Other confluences that can be seen in the currency pair are the .382 retracement level, the 138.0 support and resistance level and the recent golden cross that formed on June 23rd.