EURJPY Sell on the next rebound.

The EURJPY pair is on its 1D MA50 (blue trend-line), trading within a Channel Up since the June 28 High. It appears that smaller Megaphones within the Channel are the patterns that tend to lead the pair to its new Higher Low, that technically reaches as low as the 0.618 Fibonacci retracement level. That is our short target (156.500) but sell as high on the next rebound as possible. You may also pay attention to the 1D RSI, which rebounds on its 39.50 and is where the price has rebounded aggressively every time it hit it, inside 2023.

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