Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst.
EURJPY has been overall bullish trading within the rising red channel and it is currently approaching the lower bound / trendline.
Moreover, the zone 157.0 is a strong support.
📉 So the highlighted red circle is a strong area to look for buy setups as it is the intersection of the support and lower red trendline acting as a non-horizontal support.
📚 As per my trading style: As EURJPY approaches the lower red circle zone, I will be looking for bullish reversal setups (like a double bottom pattern, trendline break , and so on...)
In parallel, if EURJPY breaks below the red channel, a bearish continuation till the lower brown trendline would be expected.
📚 Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
All Strategies Are Good; If Managed Properly! ~Rich