FX.co ★ EUR/JPY

Hello traders. The currency pair EURJPY. The current decline in this instrument, I consider as a descending correction. The price has found support at 183.28. From the range of levels 183.28, 183.01, I expect a reversal and continuation of the upward movement. In this case, I consider the resistance level at 184.83 as the nearest potential target. If the bulls manage to push through this level, we will likely see an increase in quotes towards the level of 186.30. For conservative traders, I recommend considering buying when the price is above the 46-period Moving Average on the four-hour timeframe. Buying will be preferred as long as the pair is trading above this moving average. A pullback to this level will reduce the relevance of purchases.