The bias of the EUR/JPY pair on the 4-hour chart is still bearish. This has already been spotted by the price move in a downward sloping channel and below moving average. As we see there is a Divergence between the Stochastic Oscillator and the price. Because of this fact, the pair is likely to make correction to upward channel level before the price gets back to the down side again.
(Disclaimer)
The material has been provided by InstaForex Company - www.instaforex.com