A bearish outlook on EUR/JPY (Euro/Japanese Yen) typically stems from either Euro weakness, Yen strength, or a combination of both. Here are several current or general themes that could support a bearish bias:
1. Risk-Off Sentiment (Yen Strength)
The Japanese Yen is a safe-haven currency, which tends to strengthen during global risk aversion (e.g., geopolitical...
Major supports has been respected on higher time frame and we identify equal lows not being broken, and the day ended with a bullish engulfing which indicates the Buyers are now in control.
Price found support around 22.650 and respected the H4 time frame structure in creating a new higher low point, now we can look for new highs to be created on the next move to 23.600.
