160,76. EUR JPY is in an downtrend directed by 1H exponential moving averages. EUR JPY is in a consolidation after the last bearish movement. There is an horizontal range between 160,00 and 161,00. Support and resistance are given by Bollinger bands. The volatility is low. Bollinger bands are flat. ForexTrend 4H (Mataf Trend Indicator) is in a bearish configuration. 1H ForexSto (Modified Stochastic) indicate a bullish pressure on EUR JPY. The consolidation should continue. The price should find a support above 160,00. If the support is broken then the target will be 156,00. We won't take a position. The risk/reward ratio is too high to take a position..
161,00 - 161,60
160,45 - 160,00