If you have drawn a channel as seen above in the EURJPY
, you can see that the pair has came back down to retest the bottom trend line
of the channel. It formed a bullish
low test, signaling an upwards continuation. Other confluences that can be seen in the currency pair are the . 382 retracement
level, the 138.0 support and resistance
level and the recent golden cross that formed on June 23rd.