FX.co ★ EUR/JPY

In the EURJPY currency pair, not much is changing. The downside is not giving in, buyers are holding the initiative. Today, the bears once again tried to start a decline and briefly reached 187.05, but did not push lower. A rise to 187.50 is quite realistic from current levels, and if they manage to hold above 187.70 afterwards, then the upward movement towards 188.30 and 189.05 can continue. Buying at such high levels is certainly scary and risky, as EURJPY could turn down on news at any moment. To consider selling options, at least a firm hold below 187.05-187.00 is needed. After breaking below 187.00, the bears will have a chance to continue the decline towards 186.70, 186.35, and possibly reach 185.95. Further prospects will need to be assessed based on the actual situation, but it's important to remember that pullbacks in yen pairs can be very significant.