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The EUR/JPY pair continued range trading last week with an unchanged overall outlook. The initial bias remains neutral this week, with key support at 182.00 targeting 180.78 if broken. A firm break below 182.00 could signal a correction from the recent high of 186.86, reversing the upward trend from 154.77. On the upside, a move above 184.75 may resume the rebound from 180.78. Technical analysts highlight these levels as critical for near-term direction. For forex traders, EUR/JPY's volatility and key support/resistance levels are crucial for strategy adjustments. A breakdown below 182.00 could trigger further declines, while a sustained move above 184.75 might attract buyers. The pair's performance impacts carry trade dynamics and cross-currency positioning, especially in yen-linked portfolios. Market participants should monitor the 182.00-184.75 range for potential trend confirmation. A decisive close below 180.78 or above 184.75 could shift the bias to bearish or bullish, respectively. Traders may also watch central bank policies in the Eurozone and Japan for longer-term implications.
