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EURJPY - Retest support before growth

2025-07-28 10:49 FOREX forecast

💡 Ideas For EURJPY 🇪🇺🇯🇵

📈 Retest support before growth

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EURJPY has been correcting since the opening of the European session. The movement was triggered by yesterday's news related to the trade deal between the US and Europe...

EURJPY is reacting to news related to the deal between the US and Europe. A correction is forming amid the fall of the euro, but against the backdrop of the dollar's growth, the currency pair has a chance to rise if the bulls keep the price in the buying zone relative to the support level of 173.08.

The dollar is rising, and against this backdrop, the Japanese yen is falling. Bulls have every chance of holding their ground above the previously broken resistance. If the market confirms support, we will have chances for growth.

Resistance levels: 173.87

Support levels: 173.082, 172.47

The currency pair may form a liquidity trap relative to the previously broken consolidation resistance. A false breakdown of support and price consolidation in the buying zone (above 173.1) could trigger further growth

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