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EUR/JPY continues its steady rise, rising strongly to reach a new high near 180.75, driven by clear buying momentum and positive funding from the former demand area, confidently maintaining the uptrend.
🔍Technical Reading
The pair is moving in a clear uptrend and is supported by the formation of higher tops and bottoms, with positive delta values in the support zone, reflecting continued buying control.
Currently, the price is approaching important psychological resistance near 181.00 and some temporary pullback is likely ahead of any new extension.
🔹 Nearby demand areas (supported):
179.80 – 180.00
A sub-support area that represents the first potential pivot area during a minor correction.
179.00 – 179.30
An area of strong primary demand formed the start of the recent rally, with high positive delta values supporting continued buying in this area.
177.80 – 178.20
Deeper support areas remain effective as long as no structural breaks occur.
🔹Supply (resistance) area:
181.00 – 181.30
Current resistance could cause the upward momentum to slow temporarily.
A clear closing above this level would open the door to targets 182.00 – 182.50 levels.
📈 Most likely scenario (continued rise)
As long as the price is above 179.80, the closest scenario remains for a completed uptrend:
First target: 181.00
Second target: 182.00
Third goal (extension): 182.50
Buying momentum and positive delta strongly support this scenario.
📉Alternative scenario (temporary fix)
If the price fails to break above 181.00, we may see a limited corrective decline towards 180.00 or 179.30 before resuming the rise again.
📌Conclusion
Current Trend: Strongly Bullish
Major support levels: 179.80 – 179.00
Resistance: 181.00 – 182.00
Closer Outlook: Rally continues, but minor pullback possible
✍️ Technical Analysis: Taher – TPS Academy
