EURJPY - trend reversion near?

EURJPY is currently trading in a downward channel (violet line).

Although the majority of the traders think that the trend is soon going to change as they are positioned as LONG, I personally think that there is more room for the downtrend to continue until the support level (red line).

We can also appreciate that MACDand stochastic oscillators are still not in the best position for a trend reversion.

What do you think?


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