FX.co ★ jerome82 | EUR/JPY

Analysis and forecast for the currency pair EURJPY based on technical analysis For a considerable amount of time, the euro against the Japanese yen has been moving within an ascending trend. Although last week the price failed to renew its high once again, it also did not drop significantly low, and it seems to me that a significant decrease should not be expected. Ideally, the price may go to renew the high at 184.86 from current levels. However, a slight decrease towards the support level at 183.10 can also be expected to trigger stop-loss orders from the previous week, but after that, the price is likely to move northwards. In terms of upward targets, the price may not only renew the current peak but also reach the level of 185.80, where the 161st Fibonacci grid level is located if stretched along the current correction. However, as mentioned earlier, it is not certain yet that this correction has completed. As for a scenario of a full reversal, I am not considering it much at the moment. Although, of course, if the currency pair EURJPY drops below the support at 183.10, one will have to face reality, but this is probably not a plan for the next week, but later.