FX.co ★ Love12 | EUR/JPY

Prospects for the EUR/JPY currency pair based on technical analysis. We will pay special attention to the resistance and support levels, volumes and basement indicators. Let's look at the chart: The pair has dropped a little again today. The Jew doesn't want to grow at all and today it is going down again. The chart shows that the pair has tested the support level of 155.40 and is now trading at 156.59. RSI is moving in the middle of the range and is looking down uncertainly, AO is showing a weak buy signal, the price is below the previous day's trading range. The signals are weak, but they indicate the possibility of a slight decline. Therefore, I assume that the pair will test the support level of 155.40. Based on the analysis, cautious sales with a target of 155.50 are recommended for now. However, remember that the market can be subject to sudden changes, so carefully assess your risks. In principle, our forecast for the current EUR/JPY asset is almost the same, since I also expect a correction on the four-hour time interval to the resistance zone of 157.34 in the range of the average Bollinger moving line. We have a downward southern trend with constant zigzag corrections to the north, the global goal that should be achieved is the support level of 154.40 in the medium term, possibly working out in a few working days, thus we have a trader geometric figure of a double bottom from which it will be possible to look for a good northern correction or trend reversal, but most likely there will be a small correction after which the downward southern trend will continue until there are clear prerequisites for a reversal in the global or medium term trend, so for now the pri

The EUR/JPY pair faced renewed selling pressure after reaching the 157.10 area during the Asian session. This decline followed a modest recovery from its August low near the 155.00 psychological level. The Japanese yen continues to be supported by hawkish signals from Bank of Japan (BoJ) officials, suggesting a potential interest rate hike before the end of the year. Additionally, market jitters ahead of major central bank events this week have contributed to the yen's strength and downward pressure on EUR/JPY. The US Federal Reserve (Fed) is expected to announce its policy decision on Wednesday, followed by the Bank of England (BoE) update. However, the primary focus will be on the BoJ's policy update on Friday, which could significantly influence the near-term dynamics of the Japanese yen and EUR/JPY. While the prevailing sell-off in the US dollar may provide some support to the euro, the diverging outlook for the BoJ and the European Central Bank (ECB) suggests that headwinds for EUR/JPY remain negative. The ECB's recent decision to cut interest rates and indicate a path for lower borrowing costs in the coming months may provide some support to the euro and EUR/JPY.