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The EURJPY pair has solidified its bearish bias after testing the resistance of the minor bearish channel at 164.60. Following this, the pair experienced a strong decline, settling near the initial support at 163.25.
Negative Momentum Expected to Continue
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With the major indicators still signaling bearish momentum, we anticipate further downward movement, likely breaking the current support level. This would open the path toward additional negative targets, with the first objective being 162.75, followed by a potential drop to 162.15.
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Today’s Trading Range
Support Level: 162.75
Resistance Level: 164.00
Trend Forecast: Bearish
The outlook remains bearish, with a clear path toward further declines unless the price reverses above 164.00.
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