FX.co ★ EUR/JPY

In my brief forecast for Monday for this trading instrument EURJPY, I expect a further decline of the currency pair to the next resistance level. Most indicators on the hourly timeframe point to a decline of the currency pair to the next resistance level. The overall trend on the 1-hour chart remains bearish. On the 1-hour chart we see that the EURJPY currency pair is near the price resistance level of 184.397. On Monday I expect a breakout of this resistance level 184.397 and a further decline of the currency pair to the next resistance level 183.959. If this EURJPY currency pair is able to break through this resistance level 183.959 and consolidate below it, then I will expect a further decline of the currency pair to the next resistance level. But if this EURJPY currency pair is not able to break through this resistance level 183.959 and consolidate below it, then I will expect a pullback of the currency pair to the support level 184.879.