EUR/JPY - Rejected at Supply – Breakdown Could Accelerate Fast

Mar 3

📊 EUR/JPY – Channel Breakout (H1)

✅EUR/JPY has broken below its rising channel structure after a clear rejection from the upper key supply zone. Price respected the ascending channel for multiple sessions, forming higher highs and higher lows — until momentum began to weaken near resistance.

✅The recent rejection from the marked supply area signals strong seller presence. The breakdown below the channel support suggests a potential shift from bullish continuation to corrective or bearish expansion.

✅As long as price remains below the broken channel and fails to reclaim the supply zone, the downside scenario remains valid.

✅The first downside target sits at the nearby key support zone. If bearish pressure increases, price could extend toward the lower psychological levels marked on the chart.

✅A strong reclaim above the supply zone would invalidate the bearish outlook.

🎯 Trading Perspective
Bias: Bearish below broken channel
Structure: Uptrend → Rejection → Breakdown
Targets: First key support → Lower psychological zone
Invalidation: Strong close back above supply

Patience and confirmation are critical — avoid entering without structure validation.

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⚠️ Disclaimer: This analysis is for educational purposes only.

Mar 3

Trade active

Mar 3

Trade closed: target reached