FX.co ★ EUR/JPY

Hello traders, On the 15-minute chart, the movement of the EUR/JPY instrument is currently under bearish pressure. To continue the price decline, sellers need to break through the buyers' zone at 171.64. If the bears manage to break the range of 172.55, confirmation of the strength of this movement will be securing below the buyers' zone, opening the way to the lower unworked lows at 169.53. However, there is also a possibility of an impulsive price reversal above the resistance at 176.51. This would signal the emergence of buyer strength. In this case, one should look for a signal towards a new long trading scenario.