EUR/JPY Potential Scenarios by ThinkingAntsOk
🔸 DAILY CHART EXPLANATION:
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🔸 Price is on a Descending Channel, and we can observe a Lower Timeframe Channel also.
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🔸 It is now facing the lower trendline of the Short Term Channel.
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🔸 If it is broken, then there is potential for a downside move towards the Major Descending Channel, and, if price bounces, then we could see a bullish move towards the upper trendline of the Short Term Channel.
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🔸 Will look for a lower timeframe setup when the scenario is clear.
🔸4H CHART ANALYSIS:
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🔸 Price is on a Descending Channel, and we can observe a Lower Timeframe Channel also.
.
🔸 It is now facing the lower trendline of the Short Term Channel.
.
🔸 If it is broken, then there is potential for a downside move towards the Major Descending Channel, and, if price bounces, then we could see a bullish move towards the upper trendline of the Short Term Channel.
.
🔸 Will look for a lower timeframe setup when the scenario is clear.
🔸4H CHART ANALYSIS:
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