EUR/JPY 4H Chart: Channel Up

For quite some time now Japanese yen is continuously loosing value. No different is the cross with the single currency. As short term technical indicators suggest the pair is likely to appreciate further, but should somewhat slow down in the medium and long term. Most likely it will happen once it reaches June high slightly above the 131 JPY. As daily Stochastic indicator suggest we might see bearish correction which should be just some traders trying to capitalize their gains.