FX.co ★ EUR/JPY

Hello traders. My forecast is for the EUR/JPY pair. Looking at the H1 chart, we can clearly see a bullish pressure prevailing. There were attempts to push the price down, but they did not yield the expected results. The pair continues its upward movement, currently trading around the level of 183.44. If the bulls continue to exert pressure on the pair, I believe they will eventually break through. If we get confirmation, I think they could easily test the level of 184.15. At this point, sellers might start to show up, possibly even from current levels, although the charts currently suggest otherwise. If the level holds, there might be a short-term move to the south towards the level of 183.16 and further down in continuation of the downtrend towards 182.79, where it might be possible to consider buying the pair, but this scenario is unlikely. A consolidation below the 183.16 sub-level could accelerate the drop towards the level of 182.18, leading to a trend reversal.

Good luck to everyone.