The EUR/JPY pair is moving in a descending channel on the higher timeframes, however, the price failed to go below the 123.60 level. Hence i am of the opinion that the price will continue to rally until it gets to the resistance of the channel.
A buy will be more feasible upon the retest of the inner downward trendline within the descending channel, as price seems to have already broken it
A buy will be more feasible upon the retest of the inner downward trendline within the descending channel, as price seems to have already broken it