EUR/JPY Analysis with Identification of Expected Buying Zones

The EUR/JPY pair is moving in a strong upward trend. It has currently begun a correction and is expected to start declining in the coming period after the current strong overbought conditions.

In the event of a correction, we may see a retest of the newly formed demand zones, from which it could resume its upward movement and continue the upward trend.

Expected Targets

If the identified demand zones, located near the 184.400 level, are tested, we expect to see a renewed upward move targeting 185.400 and 186.800 respectively.

However, if a daily candle breaks and closes below the identified demand zones, we expect to see a decline to the next demand zone near 181.