🌐Macro Background
EUR/JPY extends gains for a second straight day, trading above the 185.00 mark during Monday’s Asian hours. Markets remain in wait-and-see mode ahead of the key Eurozone PPI release, which could shape the ECB’s policy tone.
Price action remains biased to the upside in the near term. Caution persists ahead of top-tier global updates later this week, including the FOMC and ECB minutes.
📊Technical Structure
EUR/JPY is compressing inside a symmetrical triangle pattern. This structure shows intensifying pressure between buyers and sellers, squeezing price action into a tightly coiled range.
Resistance Zone: 185.87 – 186.19
Support Zone: 184.52 – 184.84
🎯Trade Setup
Look for a decisive 4-hour candle close above the upper descending resistance line for a breakout trigger, or a buying response at the support zone for a dip-buy trigger.
📌Invalidation
A clean, sustained 4-hour candle close below 184.52 support invalidates the bullish structure. This breakdown signals that sellers have taken control.
📌Trade Summary
EUR/JPY is currently consolidating within a symmetrical triangle, leaning toward buying dips or longing only after a confirmed breakout above immediate resistance.
⚠️Disclaimer
This analysis is for reference only and does not constitute trading advice. Financial markets involve significant risk; proper risk and position management are essential.