EUR/JPY Descending Channel Formed

The EUR/JPY has come to the top of the channel. Descending channel could tank the price.

124.46-56 is the POC zone. We can see the channel top making a confluence with D H5 camarilla pivot. If the price drops 126.28, 126.17 are targets. The break below 126.17 should target 125.96 and 125.85. A close above the channel will possibly invalidate the bearish setup. Selling at the top is my favorite scenario here.

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