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The EUR/JPY pair is currently trading with a neutral bias near key technical levels. Daily pivot points are set at 183.89 (S1), 184.22 (P), and 184.75 (R1). Traders are advised to monitor the 184.75 level, as a breakout above this resistance could target the 186.86 high. A stronger move beyond 186.86 might extend the upward trend toward the 61.8% Fibonacci projection at 189.81, derived from the previous low of 172.24 and high of 186.86. Conversely, a breakdown below 184.22 could push the pair toward lower support levels. For forex traders, the EUR/JPY outlook hinges on these critical pivot points and Fibonacci levels. The pair's sideways movement suggests a lack of strong directional momentum, making it suitable for range-bound strategies. Breakouts or breakdowns from these levels could trigger significant volatility, offering opportunities for both long and short positions. Technical indicators remain neutral, emphasizing the importance of price action around key resistance and support. MENA investors should focus on the 184.75-186.86 range as a potential catalyst for trend resumption. A sustained move above 184.75 would validate bullish momentum, while a failure to hold above 184.22 could signal a deeper correction. Traders should also watch for broader macroeconomic factors, such as ECB and BoJ policy shifts, which could influence the pair's trajectory in the coming weeks.
