EURJPY Analysis
The EURJPY pair declined to 23.6% Fibonacci support in today’s trading session. The price is currently at 160.3, while the RSI and awesome oscillator indicators are pointing toward the continuation of the consolidation phase. However, for the decline to continue, the bears must prevail over the 23.6% Fibonacci support level, which the Ichimoku cloud has empowered.
The overall trend of EURJPY is bullish unless the price falls and stabilizes below the 160.2 support. In this case, the consolidation phase that began in the middle of January would extend deep into the Ichimoku cloud in conjunction with the 38.2% Fibonacci support.