От: Dima Chernovolov

EUR/JPY continues to rise inside the 4-hour Up Channel chart pattern which was recently identified by Autochartist. Autochartist оценивает качество этого канала вверх на уровне 6-бара - который является результатом медленного Начального Тренда (3 брусья), выше средняя Однородность (6 брусья) и сильная Ясность (8 брусья). EUR/JPY is expected to rise further inside this Up Channel – in line with the earlier upward reversal from the support zone shown below.

As can be seen from the daily EUR/JPY chart below – the price earlier reversed up from the support area located between the support level 124.25 (former multi month high from June and July, acting as the support after it was broken previously) и 50% Fibonacci correction of the earlier upward impulse from last month. The proximity of this support area adds to the probability EUR/JPY will continue to rise inside this Up Channel.

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