Prior to 3th december, EURJPY was in a steady descending channel. This channel was suddenly stopped by Draghi and it then resumed at the same pace. The magnitude of the waves and the slopes of the two channels are very close.
Therefore I expect the PA to slide against the lower band of the channel like it did in the second half part of the first channel, opening up the way for a short trade.
Therefore I expect the PA to slide against the lower band of the channel like it did in the second half part of the first channel, opening up the way for a short trade.
