EURJPY testing local support

On the H4 chart of EURJPY, we can see that as a result of last week’s decline, the market yesterday hit the bottom of the upward channel. Currently the course is in the vicinity of local support, and if there is a greater bullish response in this area, we expect to see at least a growth correction. However, if this level is overcome, then we could expect continuation of depreciation just in the area of already mentioned level of 127.40.