FX.co ★ sohailmazari | EUR/JPY

EURJPY H4 The ongoing trend analysis of the EUR/JPY market pair suggests a continuation of the bullish trajectory observed in the previous week. The candlestick direction remains stable, predominantly favoring the bullish side. Although a minor dip occurred over the weekend, the price managed to hold above the weekly opening, signaling resilience from buyers. A closer examination of daily price movements from Monday to Wednesday reveals persistent efforts from buyers to sustain the upward momentum despite occasional pressure from sellers. The market closed the week at 165.30, marking a bullish conclusion from the week's starting position of 162.26. This consistent bullish behavior underscores the dominance of buyers in the market. As the market rests at 163.92 over the weekend, the focus for the upcoming week leans towards initiating buy positions. The prevailing influence of buyers on the EUR/JPY market remains robust, hinting at potential targets for the next leg of the bullish journey. It is conceivable that the candlestick may ascend to test the price range between 164.12 and 164.64, reflecting the continuation of the recent upward trend. The likelihood of this bullish trajectory extending into the following week is high, with early indicators suggesting a probable downward correction around 163.52 on Monday or Tuesday, followed by a resumption of the bullish trend as the week

progresses. The projected price movement points towards a sustained upward trajectory, with potential gains aligning with buyer objectives. The upcoming week presents a significant opportunity for the EUR/JPY pair to ascend further, potentially surpassing current levels. However, failure to do so may result in a bearish reversal, with the price possibly testing support around 161.37. In summary, the EUR/JPY market's bullish momentum remains intact, supported by consistent buyer activity. The anticipated price movement suggests a continuation of the upward trend, with potential targets identified for the week ahead. While short-term corrections may occur, the overall outlook favors bullish sentiment, with buyers poised