Possibility of Channel Breakout

FX_IDC:EURUSD   Euro / U.S. Dollar
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FX_IDC:EURUSD             Here's how I see it. Possibility of challenging bottom end of channel zone at 1.0807, as supported by 2 earlier trough points created in December. The flag pole created in early December is somehow correlated with the pricing direction pair of USDJPY             . Should the USDJPY             strengthen, or breakout higher, this action will put downward pressure on EURUSD             , thus invalidating the flagpole bullish pattern .
good analysis
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