EUR/JPY Timeframe H4 
Based on the EUR/JPY chart on the H4 timeframe, the current condition indicates that this currency pair is in a bullish recovery phase after a relatively long consolidation period. The price structure in recent weeks shows an increasing buying interest gradually pushing the price back towards important resistance areas, thus opening up the possibility of a continuation of the uptrend if key levels are successfully breached. From a trend perspective, the price is currently above the MA 100 and MA 200. This is a positive signal as it indicates that the medium-term momentum is still dominated by buyers. Additionally, the MA 100 is slightly above the MA 200, reflecting the bullish tendency that has been forming since mid-May. Both moving averages now act as dynamic support areas supporting the price movement. As long as the price remains above these two indicators, the probability of further upside is relatively higher compared to the chances of a downtrend reversal. The price movement after the sharp volatility at the end of April shows an interesting shift in market character. After a drastic decline to near the 183.30 area, EUR/JPY gradually built up an uptrend foundation through a series of higher lows and higher highs. This structure is a key characteristic of a healthy uptrend. Despite experiencing a correction in early June, the selling pressure failed to bring the price significantly below the main support area, indicating that buyers are still maintaining market control. Currently, the price is around the 185.86 area and is testing a horizontal resistance around that level. This resistance plays a crucial role as it has been a reversal point for the price in recent weeks. A successful breakout and sustained move above the 185.86 area would be a continuation signal that the bullish momentum is still strong. If this breakout occurs with adequate volume and momentum support, the next upside target could potentially lead to the 186.44 resistance. The 186.44 level is a significant resistance as it was a previous peak before a correction occurred. Breaking above this level would strengthen the bullish structure and open up opportunities for EUR/JPY to continue its ascent towards higher resistance around 187.53. This area is a major resistance and also the current visible peak on the chart. Therefore, if the price manages to reach that zone, market participants are likely to assess the potential for profit-taking actions and further breakout opportunities. On the other hand, if the price fails to sustain the bullish momentum and experiences selling pressure from the current resistance area, the first support to watch is around 185.67. This level previously acted as resistance and now has the potential to turn into support after being breached. As long as the price holds above this area, the short-term bullish structure remains intact. If selling pressure intensifies and the price drops below 185.67, market attention will shift to the next support around 184.57. This level is significant as it is close to the position of the MA 100 and MA 200. Besides being a horizontal support, this area is also supported by dynamic support from both moving averages, making it a strong defense zone for buyers. A break below 184.57 would signal a weakening bullish momentum and the market risks entering a deeper consolidation phase. The next major support is located around 183.29. This area successfully held selling pressure in early May and formed the basis for the uptrend that has been ongoing until now. As long as the price remains well above this level, the medium-term trend can still be categorized as bullish. However, if this support is breached, the established uptrend structure over the past few weeks could potentially suffer significant damage. Overall, the technical analysis of EUR/JPY on the H4 timeframe indicates a relatively positive outlook. The price moving above the MA 100 and MA 200 suggests that buyers still dominate the market, while the higher low and higher high structure reinforces the indication of a continued uptrend. The main focus is currently on the resistance area from 185.86 to 186.44. If this zone is successfully breached, the potential for an increase towards 187.53 will be higher. Conversely, if there is rejection from the current resistance area, the 185.67 and 184.57 supports will become crucial levels in determining whether the bullish trend can still be maintained or if it will enter a deeper correction phase. Therefore, as long as the price remains above the MA 100 and MA 200, the technical bias for EUR/JPY still tends towards the bullish side.
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