A Channel Up has formed, EUR/JPY is approaching support. Can we expect a breakout and the start of a new trend or a reversal?

EUR/JPY approaching resistance of a Channel Up
Emerging Channel Up pattern in its final wave was identified on the EUR/JPY 30 Minutes chart. After a strong bullish run, we find EUR/JPY heading towards the upper triangle line with a possible resistance at 169.4261. If the resistance shows to hold, the Channel Up pattern suggests a rebound back towards current levels.

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