On daily chart of EUR/JPY we observe a strong upward trend since mid-April. Currently a correction is in progress that violates with lower shadow of the candle the range of the previous correction. Two demand pin bars after reaching this range look quite interesting in the context of possible bullish rebound. It seems that demand is facing a chance to complete the correction and it should settle in the coming days.
On H4 there is a downward movement since the beginning of August. As you can see, the edges of the channel are well respected. There seems to be quite a good chance that the ongoing reflection will continue at least to the upper edge of the channel but only breaking it can give a preliminary signal to return to the trend and breaking the high from 16 August will be a good confirmation.
