DeGRAM | EURJPY growth in the channel

EURJPY is in a descending channel between trend lines.

The price is moving from the lower boundary of the channel and support level, and the 38.2% retracement level is the nearest obstacle to growth.

The chart retains a descending structure, but it has already formed a harmonic pattern.

On the 4H Timeframe, the indicators are pointing to a bullish convergence.

We expect growth in the channel after consolidation above the 38.2% retracement level.

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