EURJPY Low risk buy here. Keep an eye on the RSI.

The EURJPY pair has been trading within a Channel Up pattern since March. The price is currently on the 1D MA50 (blue trend-line) at the bottom (Higher Lows trend-line) of the Channel Up. As long as the pattern holds (bottom intact, closing 1D candles above it), we have the opportunity for a low risk buy to target the Internal Higher Highs trend-line at 160.450.

If we close a 1D candle below the pattern, then buy again only when the 1D RSI touches the 39.50 Support. This level has marked the bottoms of July 27 and March 17.

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