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We've seen the EUR/JPY respect the 4H price channel on the 1H chart and if price continues to flow in the channel we could be seeing an opportunity for a quick short.
We see the price action is stuck between the bearish channel we're in. If price breaks below the red line, we can potentially see a move to the bottom of the channel. If price bounces up, we could continue to the high end of the channel.
The AUD/JPY and the AUD/USD charts are in correlation and have both been respecting the 4H price channel. If the price continues to respect the range we could be seeing the beginnings of a Bear market.
As you can see the AUD/JPY 1H has been obeying the 4H price channels quite well. If the pair decides to continue flowing in the channel we could be seeing the beginnings of a Bear market. I'm using a break of the most current trend to make a trade.