EURJPY has broken below a key ascending trendline that had been supporting the bullish structure since early May, signaling a potential shift in momentum.
After rejecting from the recent highs around 186.20, price formed a descending channel and is now consolidating beneath the broken support area. The highlighted zone near 184.50 is acting as a supply/resistance region, and any retest into this area could attract fresh selling pressure.
As long as price remains below 184.85, sellers may maintain control, opening the door for a continuation lower. A clean rejection from the current zone could accelerate the decline toward the major support around 182.03
After rejecting from the recent highs around 186.20, price formed a descending channel and is now consolidating beneath the broken support area. The highlighted zone near 184.50 is acting as a supply/resistance region, and any retest into this area could attract fresh selling pressure.
As long as price remains below 184.85, sellers may maintain control, opening the door for a continuation lower. A clean rejection from the current zone could accelerate the decline toward the major support around 182.03
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.