Hello everyone! Towards the end of the trading week, the euro against the Japanese yen pair showed a significant increase. This was due to poor data from Japan and the Central Bank's decision not to raise interest rates. At the moment, the prospects for the Japanese yen do not look very optimistic, but on the other hand, the euro has a good chance of weakening against the US dollar, so we might see a more significant decrease on this currency pair. Especially after such a rise, I would expect a correction, the question is whether the price will reach the support level of 165.32, which was the previous high. Because buying from this level looks very attractive, and I don't see any other trading options. Some may feel tempted to sell at current levels, but considering how long the EURJPY pair has been in an uptrend, such deals can only be described as risky ventures.
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