FX.co ★ jerome82 | EUR/JPY

The currency pair EURJPY - D1 period chart. Here it can be seen that the last downward wave has updated several lows of the previous downward wave. But this cannot be called a broken upward wave structure. The MACD indicator is in the neutral zone and moves back and forth near zero, which indirectly indicates uncertainty about the further direction of movement. Here the price is not far from the main support level of 182.63, which is good for working out signals for growth on smaller timeframes. Based on the analysis, the major pair USDJPY is preparing to continue growing beyond the 2024 high. And if it continues like this, I think it will drag this pair along with it. Unless the EURUSD pair significantly weakens, this pair is a cross rate between these major pairs. For now, the euro remains under pressure, while the dollar yen mostly moves sideways. As a result, the exchange rate has become uncertain. Several attempts to break the main support level of 182.63 were made in March. And it seemed like they were breaking through, but each time the breakthroughs turned out to be false. The price was at the level and above it, and as long as it stayed above it, there were more chances to work out growth within the day. Still, I leaned towards growth and updating the maximum that was in January of this 2026 year, the upward trend was helpful, it hasn't gone anywhere yet. If such growth occurred towards the maximum, there was already a potential selling zone. On the weekly chart, a bearish divergence has now formed on the MACD indicator. When breaking above the peak on H4, the same mirror level at the edge of growth was formed, and there was also a bearish divergence. All these signals for a decline were worked out with a sharp drop of 500 points or more on the last day of April. And now there is an unclear situation, after such a drop, the price may again get stuck in a sideways movement for a couple of weeks. There is an upward trend line and the level of 182.63 is good for growth. At the same time, divergences on the monthly and daily charts do not add optimism for buying. A rather contradictory situation has now arisen, in such conditions I would prefer to stay out of the market for this currency pair. It seems like it is pulling upwards following the trend for the maximum, but at the same time there is a resistance level of 186.20 and the price has moved away from it downwards. In short, we are back in the middle again and there is complete uncertainty here. For this pair, I am currently out of the market.