EURJPY has fallen sharply following the Bank of Japan's intervention, triggering a long squeeze below key support. A recovery back into the trading range could provide the foundation for a bullish rebound

The market is currently stabilizing after the sharp decline, with price testing what was previously the daily range support, now acting as resistance.
A move back above the 180.80 level, followed by sustained consolidation, would confirm the recent breakdown as a false breakout and could trigger a bullish impulse

Resistance levels: 182.10, 183.56
Support levels: 180.80, 179.50

If buyers manage to reclaim and hold 180.80, the pair could regain upside momentum, opening the way for a recovery toward the next resistance levels

Best regards,
R. Linda