EURJPY → Consolidation before further declineEURJPY is forming a downtrend. The price is bouncing off the channel resistance and has approached strong support, the breakout of which may trigger further decline
Global EURJPY is in a neutral trend, but locally, due to economic nuances, the euro is weakening against the Japanese yen
There are two key zones on the chart - resistance at 159.112 against which a false breakdown can be formed before the price continues its decline. And support at 158.45 - support of the pre-breakdown consolidation and at the same time a strong level, the break of which will open the way to 156.29.
Resistance levels: 159.11, 160.16, 160.9
Support levels: 156.29
Technically, the situation is weak and hints that in the short term the bears could overcome the key support, which could trigger a bearish momentum
Regards R. Linda!