EUR/JPY
Time frame: H4
Technical Analysis: The chart shows that the price has entered a downward trend channel and is currently on its support. At the same time, the price made 1st bottom on March 22, 2019, and now it made 2nd low. The DeM and RSI indicators are at higher values, indicating that the downward movement has been exhausted. Hence, the price is likely to continue in ascending direction.
Indicators: The price is below 200 and 50 EMA, and for the moment they play a role of strong resistance.
RSI - Little over 30%, indicating the presence of convergence.
DeM - Over 0.30% indicating convergence.
Entry into Deal: From current levels
Stop Loss: 123.30
Alternative scenario: In case of a breakthrough in support of the bearish Trend Channel, the price will continue to decline to 123.00
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