A strong buying opportunity for the EUR/JPY pair is currently on the horizon for the near term.

The EUR/JPY pair is currently moving sideways, having reached daily demand zones—which are among the most significant areas for buying at present.

The price action thus far suggests a period of accumulation; consequently, an upward move for the pair is expected soon.

Expected Targets

Should the pair break through the supply zones—which represent the upper boundary of the current sideways range—we anticipate an ascent toward the targets set at the 179.00 and 179.60 levels, respectively.

The buying opportunity is invalidated if the downward movement continues. Furthermore, if the trade is triggered, the setup will be invalidated should the price reverse and close with a full candle below the specified supply zones.