Euro yen inside a falling channel on the H4 frame. The pair is still providing negative momentum after the third bounce from the upper side of the main down and sub-trend as well. Now the pair is in a selling track even if it is corrected a little higher inside the descending channel, to return quickly to descend to target the lower rib levels of the channel, taking into account the last bottom level as a last support for the pair. In general, entering a short position only inside the descending channel will be good for short and medium term traders while maintaining a suitable stop loss above the descending channel.
Euro yen inside a falling channel on the H4 frame. The pair is still providing negative momentum after the third bounce from the upper side of the main down and sub-trend as well. Now the pair is in a selling track even if it is corrected a little higher inside the descending channel, to return quickly to descend to target the lower rib levels of the channel, taking into account the last bottom level as a last support for the pair. In general, entering a short position only inside the descending channel will be good for short and medium term traders while maintaining a suitable stop loss above the descending channel.