FX.co ★ jerome82 | EUR/JPY

Hello traders. EUR/JPY. Yesterday, the Euro/Yen pair started to slowly turn south, but it's not yet certain that the bears have completely taken control. Although the indicators on the hourly chart point towards further downside movement, the pair has already responded to a intraday sell signal today. I am considering the possibility of a continuation of the decline in the short term. On the hourly chart, indicators still support further downside, but the next sell signal has not been activated yet. If things go well for the bears, there is a chance for a move to the south with a target around 183.10-20 in the short term. In any case, it is advisable to wait for the signal to open new short positions. On the four-hour chart, indicators still favor a northward movement, although one of the lagging indicators has already shifted to the lower zone, and the pair is currently testing the middle Bollinger Band from above. Therefore, the further direction will be more accurately indicated depending on a breakout or bounce. Both scenarios are equally possible, so I won't guess, but it's important to wait for the test results.