FX.co ★ EUR/JPY

Hello traders, The growth in the EURJPY currency pair is gradually slowing down, which is not a good sign for buyers. Normally, yen pairs move confidently in the chosen direction, albeit with significant pullbacks, but currently, this determination is fading. The scenario of consolidating above 169.75-170.00 and then rising to 175.00 doesn't seem quite realistic anymore. There are more hints now that the yen may strengthen, but to confirm a decline, a consolidation below 168.00 is needed, with the first prerequisite for the beginning of a decline being a consolidation below 168.75. If the 168.00 level is breached, the EURJPY price could shift towards 166.00 and below, but this will only be evident in practice.