EURJPY B

EUR/JPY extended the retreat on Monday. The currency pair fell to a fresh multi-week low of 184 before correcting some losses. Despite the consolidation, the support cluster around 184/183.80 could offer a solid base for a bounce.

Key Indicators

• Technically, the pair is demonstrating a short-term bullish market structure on the H1/H4 timeframes. The currency pair formed a short-term base near 184 after correction.

Fundamental Context

Fundamentally, the sustainability of any gains in EUR/JPY for this week will largely depend on the Japanese yen's performance, the upcoming ECB decision, and geopolitical developments. The European Central Bank will hold its monetary policy meeting on Thursday