Using only price action analysis, EUR/JPY broke the daily rising wedge formation and now is currently retesting the lower trendline with an ascending channel. If the price manages to break below the smaller ascending, our first target is going to be the beginning of the channel at around 137.38. Breaking below this zone may push the price for further downside towards 133.26 or even 125.11 in the long run. Goodluck!
M.Y.
M.Y.