Charting the EURJPY

This is a quick view on the EURJPY pair, the price has hit a key long term support at 136.22 in addition to the support for the main falling channel. We might see the bounce extend further towards the shaded resistance area. However, watch carefully if we reach there, as we might see renewed bearish pressures and potential shorting opportunities. A break back above that area may extend the bullish rebound towards the main descending resistance for the channel.

Note that Taking back 136.22 support level would be seriously bearish.

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