EUR/JPY: The Data is Compelling for a Swing Long as Support Holds Firm

Good morning KoraFX community. Chukwuemeka Ibrahim here, bringing you a breakdown of what I'm seeing on EUR/JPY. While the market has been largely sideways, currently at 162.68 with a day range between 161.96 and 163.4, a specific technical confluence, supported by broader market sentiment, has my attention for a potential swing long. The charts are pointing to a clear opportunity here.

Technical Confluence and Entry Strategy

Looking at the daily and 4-hour charts, we've seen solid testing of the 161.96 support level. This level has proven to be quite resilient, preventing further downside even amidst the current sideways chop. My strategy focuses on capturing a bounce from this key area. I'm looking for an entry around 1