EUR/JPY Range Play: Targeting Downside Within Established Structure

Market Structure & Current Technicals

Good morning, traders. My focus today is on EUR/JPY, which continues to exhibit a clear sideways trend. Currently trading around 162.39, the pair has spent the last 24 hours oscillating between 162.11 and 162.66. This tight range defines our immediate trading environment. We’ve seen resistance firmly hold at 162.66, which aligns with the high of yesterday's trading session. On the downside, 162.11 has provided reliable support. My analysis indicates that we are operating within a well-defined channel, and the current price action suggests a potential retest of the upper boundary before a move lower within this established structure. This area around