EUR/JPY Key Supply Zone Holding – Bearish Rejection in Play

Chart Analysis & Trade Setup:
The EUR/JPY 45-minute chart highlights a strong supply zone near 157.50 - 157.60, where price has repeatedly rejected, leading to multiple sell-offs. This zone remains a critical resistance area for further downside movement.

Technical Breakdown:
📌 Key Supply Zone (157.50 - 157.60): Price has attempted to break above but faced strong rejection, confirming sellers' dominance.
📉 Bearish Price Action: Each rejection from the supply zone has resulted in a decline towards key support levels.
🔄 Liquidity Grab & Drop: A fake-out above 157.50 led to a sharp reversal, suggesting a distribution phase.

Trade Plan:
✅ Entry: Consider a short position on a retest of 156.50 - 157.00, if price fails to reclaim higher levels.
🎯 Target 1: 156.00 (Recent support level).
🎯 Target 2: 155.70 - 155.50 (Stronger demand zone).
🛑 Stop Loss: Above 157.65, as a breakout above this level would invalidate the bearish setup.