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R.Linda Trading - forecast

EURJPY - One step away from distribution

2026-02-20 10:29 FOREX forecast

💡 Ideas For EURJPY 🇪🇺🇯🇵

📈 One step away from distribution

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EURJPY is forming a reversal pattern within a countertrend correction. A breakout and consolidation above 182.7 will give a positive signal for growth

Consolidation is forming after a downward distribution (correction). The market is holding the currency pair from falling, and an intermediate bottom of 180.8 - 182.0 is forming. The weak yen is supporting the euro. A breakout of 182.7 and a close above this level could trigger growth.

A pre-breakout local range of 182.32 - 182.7 is forming. Before the breakout, a retest of the support zone of 182.3 - 182.0 is possible.

Resistance levels: 182.71

Support levels: 182.32, 182.0, 181.7

A long squeeze of support, as well as a breakout of resistance at 182.7, could trigger growth within the global bullish trend

R. Linda

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