Prospects of the currency pair EUR/JPY based on technical analysis. The main focus will be on resistance and support levels, volumes, and basement indicators. So, the chart:
The pair has descended well, hit the target precisely, and reversed. On the chart, it can be seen that the pair tested the level of 172.05 and is currently trading at a price of 172.51. Let's see what the indicators say. The RSI is moving in the middle of the range and confidently pointing upwards, the AO is showing a good buy signal, and the price of the EUR/JPY pair is below the trading range of the previous day. The signals are very strong, indicating a potential rise. I assume that the pair will test the resistance level of 173.15. Based on the analysis, cautious buying is recommended up to 173.05. However, remember that the market can be subject to sudden changes, so carefully assess your risks.
