EURJPY - Countertrend correction before growth

EURJPY is correcting within the trading range formed within the local and global uptrend. A long squeeze may provide an opportunity for growth.



The currency pair is forming a countertrend correction due to the relatively weak euro. However, the fall of the Japanese yen may support the pair's growth in the medium term.
EURJPY is heading for a retest of the trading range support within the local uptrend, which is paired with the global trend. A false breakdown of 183.15 and consolidation above this level could support further growth.

Resistance levels: 184.76, 185.27, 189.92
Support levels: 183.15, 182.00

A long squeeze and bulls holding the price above the key support zone will indicate buyer dominance within the main trend. Growth from 183.15 may continue towards the resistance of the range.

Best regards, R. Linda!