EUR/JPY is trending down strongly inside marked bearish channels, It's now testing the upper limit of two channels & the intermediate line of the third yellowish one.
These mentioned limits of channels are considered intraday resistance which if broken will lead to establishing an intraday retracement.

VIOLET CHANNEL represents Yesterday's movement.
BLUE CHANNEL represents the last 2 days' movement.
YELLOW CHANNEL represents the last 3 days' movement.
Based on the previous analysis
There's a bullish opportunity on break of 101.65 with TP at 102 then 102.40.
SL should be placed below 101.45.
The material has been provided by Instaforex Company - instaforex.com

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