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EURJPY Weekly Sell - bearish channel has formed

Oleh TheRavensForex
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The EURJPY has broken its previous support and has created a lower high wave for its bearish channel. Upon the opening of the Tokyo session, it also formed a rejection candle by retesting the previous resistance zone. This suggests that the pair is likely to begin dropping soon. Although the market is in our favour, I am still hoping that it could retest the FIB 0.5 level before experiencing a significant drop.
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FIB 0.618 retested:
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Closed at the entry:
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