EURJPY Analysis, May 02, 2025
EURJPY on TF M15 shows that the price movement has experienced significant acceleration upwards, then entered a consolidation phase near the top. This is a common characteristic of a healthy trend, where the market rises, then pauses temporarily to consolidate before continuing to rise further. On the chart there is a green area which is the support demand zone. This zone is formed after a significant price breakout upwards, which is then followed by a small pullback and further rally. This green zone is an important area to measure potential buying interest if a correction occurs.
If the price drops to test the demand area (163.70?163.90), then you can consider buying on dip. Entry: In the support area. Stop Loss Below the green area, around 163.50. Target Return to resistance 164.50