FX.co ★ EUR/JPY

On the 30-minute timeframe for the currency pair EUR/JPY, the following technical picture is observed. The price is at the area of global highs, where there is a slowdown in the upward movement, which often indicates a possible distribution phase or the beginning of a correction. In the current situation, it is logical to expect the completion of the impulse and the formation of a corrective movement. The first potential downside area is the support level at 186.17, where the price may correct before a possible continuation of the trend. After approaching this zone, it will be important to assess the reaction: holding the support could provide a point to look for long positions along the trend, while a breakthrough of the level will open the way to a deeper correction.