EurJpy Longterm - Sell

With Japan starting its interest rate hike process and ECB entering a rate cut cycle, we expect a significant recovery in the Yen, which has reached historically low levels. After confirming the downward trend with the previous sharp decline and breaking the upward channel, we expect a move down to the 61.8% Fibonacci retracement level of the main upward trend.

Following the correction rise, the price has now both confirmed the downward movement and provided a selling opportunity for those who missed the previous peak.

To track price movements in the short term, you can check the analysis daily. We will keep you informed at key intermediate levels.