EUR/JPY: Intraday Long Setup Targeting Resistance Break

Technical Read: Testing Key Support

Good morning, KoraFX community. My focus today is on EUR/JPY, which has been in a sideways trend recently. The pair is currently trading at 161.88, down slightly by 0.2% over the last 24 hours. Looking at the charts, we can see price action has respected the immediate support zone around 161.4, which also happens to be the low of the day's range. This is a key level being tested, and the bounce from this area yesterday and into today suggests underlying demand. My technical analysis indicates that while the broader trend is sideways, there’