EURJPY... is moving into a descending channel

Hi everyone

as on the chart now price is moving into a descending channel indicating more bearish.

so here is the short strategy on this pair:

if the price could manage to break the yellow dashed line and closed below this key line

we can set short position. at this case our targets would be the support levels on chart.

also... if the price broke the channel upward this strategy would be invalidate.

so our stop loss would be above the channel line or the red dashed line on the chart.



Enjoy the market

Comment:

the candle is now closed above the channel it may even cross above the resistant line. this is important to remind our strategy just works if the price close below the key line. if not short position not valid.