FX.co ★ Aldreda | EUR/JPY

EUR/JPY The EUR/JPY upward movement for this currency pair. At the level of 163.60, sellers are active. I am considering opening a buy position from the price level of 164.60, with the first target for taking profit being 164.70 and the stop loss being 164.30. Should the price fall below 164.00, we will consider alternative strategies. The trend can continue from 164.00, which has proven to be a vital support area. With the current ones, we may reach 165.15 and then buy. There may be a test around 164.60, and the strengthening will continue. We can still increase the exchange rate from them since they can't make a significant drop from the current ones. It will be a signal for a set of purchases if we manage to fall to the range of 163.60 from the current ones. The fall may continue from 165.15, where there is resistance. We may further strengthen in the range of 163.58 since we found good support there. The growth may continue to 164.40 if the current ones enhance further. Growth may continue after a minor correction has taken place. If we look at a higher time interval, such as a monthly chart, we will see that we are approaching 166.00. The growth will continue if it does not consolidate below 163.70 today. Let's take a look at today's events. I want the situation to be more clear-cut at the moment. However, today, I focused exclusively on the south to reach the nearest support level of 162.34. We will move towards the south after reaching the nearest weak resistance level. The bulls will be more active today, so there won't be any talk of southern movement, and it must just be the current situation. The market will move downwards. In this situation, traders will have to adjust their trading strategy as they look for lower levels. They can wait for a downside move after looking at the nearby levels of 162.00 and 161.65. With each scenario, it is important that traders flexibly adjust their trading strategies and continue to monitor market movements. By combining technical analysis and market trends, traders can make better decisions and take advantage of various market movements. But, always keep in mind that there is always risk in trading and risk management should be kept in mind.