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Although Sellers still dominate EUR/JPY on its 4-hour chart, this is confirmed by its price movement which is moving below the WMA (21) which also has a downward slope, but with the appearance of Divergence between the EUR/JPY price movement and the Stochastic Oscillator indicator, it gives an indication that in the near future there is a potential for a strengthening correction to the level of 163.35, but as long as the strengthening does not breaks and close above the level of 165.16, EUR/JPY will fall again to weaken to the level of 161.54, even if the volatility and momentum of the weakening support it, the level of 159.30 will be the next target to be aimed for.
(Disclaimer)
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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