EURJPY: This is the return of the JPY?
The EUR/JPY pair is holding steady around the 154.50 mark during the early European session. It's currently positioned below the 100-hour EMA with a downward trend, indicating a preference towards the downside.
Looking at the one-hour chart, it's predicted that the EUR/JPY pair will experience an initial level of support at 153.45 (low of July 12) before moving towards 153.00, which is a significant psychological milestone. If the pair breaks below this level, it could expose 151.00, which is a round level and a high of May 29.
Looking at the one-hour chart, it's predicted that the EUR/JPY pair will experience an initial level of support at 153.45 (low of July 12) before moving towards 153.00, which is a significant psychological milestone. If the pair breaks below this level, it could expose 151.00, which is a round level and a high of May 29.
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