EURJPY Declines, Watch 157.1 and 155.3
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The EURJPY chart shows a clear downtrend, with the price trading below the EMA 34 and EMA 89, confirming strong selling pressure.
The key resistance is identified around 157.100 USDT. If the price fails to break this level, it is likely to retest the support zone at 155.321 USDT.
The downtrend is expected to continue unless there is a reversal. The market is also significantly influenced by the interest rate decisions from the ECB and BOJ, which will be crucial in determining EURJPY's direction in the near future.
The key resistance is identified around 157.100 USDT. If the price fails to break this level, it is likely to retest the support zone at 155.321 USDT.
The downtrend is expected to continue unless there is a reversal. The market is also significantly influenced by the interest rate decisions from the ECB and BOJ, which will be crucial in determining EURJPY's direction in the near future.
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EURJPY is trading at 156.97, down 0.06%. The pair is in a consolidation phase, testing the critical support at 157.70. If it holds this level, a short-term recovery may occur, but the risk of further decline remains if the support is broken.
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