In my brief forecast for today, for the trading instrument EURJPY, I expect further decline of the currency pair towards the next resistance level. Most indicators on the hourly timeframe point to a decrease in the currency pair towards the next resistance level. The overall trend on the 1-hour chart remains bearish. On the 1-hour chart, we see the currency pair EURJPY near the resistance level of 184.175. Today, I expect a breakout of this resistance level at 184.175 and further decline of the currency pair towards the next resistance level at 183.789. If the currency pair EURJPY manages to break this resistance level at 183.789 and hold below it, then I will expect further decline of the currency pair towards the next resistance level. However, if the currency pair EURJPY fails to break the resistance level at 183.789 and hold below it, then I will expect a pullback of the currency pair towards the support level at 185.049.
