The chart shows the JPY weighted index on a daily time frame, creating a bearish bat harmonic pattern.
Furthermore, the last 3 daily candles together have formed a three pin pattern (Evening Star formation) indicating bearish reversal.
I expect JPY to start showing signs of weakness in the next couple weeks across the board, meaning potential XXXJPY buys.
JPYEUR is following the above channel so time your entry right on a lower time frame.
Also be prepared for a breakout in channel at some point.
Warning; trading comes with risks, trade safely and within reason. All charts to be used for guideline purposes.
JPYEUR short entry after corrective action. In our opinion, the exchange rate correction is carried out. The correction motion is close to the correction axis 0.007926. Then we expect a further drop in the rate, Our primary target price is around 0.007476 levels.