EUR/JPY Daily Timeframe 
The EUR/JPY currency pair on the daily timeframe still shows a bullish trend structure in the medium to long term, despite recent aggressive selling pressure. From the chart, it can be seen that the price rose to form a new peak area around 187.100–187.900 before experiencing a sharp correction. The significant drop in the last candle indicates strong profit-taking after a long rally since October 2025. However, overall, the main trend tendency has not fully changed to bearish as the price is still above the MA 200 and not far from the MA 100. The MA 100 on the chart is around 182.900 and is gradually moving upwards. This moving average position serves as the main support for the medium-term trend because over the past few months, the price has retraced to this area several times before continuing its upward movement. Meanwhile, the MA 200 is well below the current price, specifically around 179.500–180.000. The significant gap between the price and the MA 200 indicates that the long-term bullish structure is still dominant and has not experienced significant damage. As long as the price remains above the MA 200, the bullish opportunities are greater than the potential for a major trend reversal to bearish. However, the large bearish candle at the end of the movement needs serious attention as it indicates a change in short-term momentum. Previously, EUR/JPY was trading steadily above the 186.000 resistance and even formed a healthy consolidation at the peak area. However, a sudden selling pressure managed to push the price down towards the MA 100 area. This shows that the market is starting to enter a correction phase after being overextended due to the previous long rally. The nearest support area is currently around 182.900–183.000, which is also close to the MA 100 line. This zone is crucial as it can determine whether the bullish trend can still be maintained or if it is weakening. If the price manages to hold and form a bullish rejection in that area, then the opportunity for a rebound towards the 184.500 resistance is still open. Furthermore, if the buying momentum strengthens, the price could potentially rise back towards 186.000 and the previous peak area around 187.900. On the other hand, if the 182.900 support is validly breached with a strong daily closing candle below it, then the bearish pressure is likely to continue towards the next support around 180.800. This area is an important horizontal support that previously acted as a bullish breakout point in early March. A decline towards this area can still be considered a normal retracement as long as the price does not break below the MA 200. However, if the selling pressure deepens to break below 180.000, then the medium-term bullish structure may start to transition into a distribution phase or even the beginning of a new bearish trend. On the resistance side, the 184.500 level is the first hurdle that buyers need to overcome to restore short-term bullish momentum. The next resistance is around 186.000, which was previously a breakout zone before the price made a new peak. If EUR/JPY manages to rise above that level again, then the bullish sentiment will dominate once more, and the market could continue its ascent towards 187.900 and even open up the possibility of reaching the psychological area of 188.500. The current movement of EUR/JPY also indicates that volatility is increasing. This can be seen from the larger candle sizes compared to previous weeks. Such conditions usually indicate that the market is entering a new direction-determining phase. Therefore, the price reaction to the MA 100 in the coming days will be crucial in determining the trend continuation. If buyers manage to hold that area, then the current correction is likely only temporary. However, if the selling pressure continues and the price consistently moves below the MA 100, then the market may enter a deeper correction phase. Overall, EUR/JPY is still in a long-term bullish trend as the price remains above the rising MA 200. However, the recent sharp correction indicates a weakening of bullish momentum in the short term. The 182.900 area is a key support that will determine the next direction, while the main resistance is in the range of 184.500 to 186.000. As long as the main support holds, the chances of further upside remain dominant, although the market is likely to be more volatile in the upcoming sessions.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade
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