EUR/JPY 1H Chart Analysis –Bullish Rebound from Key Support Zone🔵 Trend & Structure:
⏫ Uptrend Channel (now broken)
The price was moving in a rising channel.
❌ Breakdown from the channel shows loss of bullish momentum.
🟦 Key Zones:
🔷 RBS + RBR Zone (Strong Support)
🔽 Price is currently sitting on this zone.
📍Potential bounce area → watching for bullish reaction.
🟥 Resistance Zone (Short-term hurdle)
🔺 Might be retested before moving higher.
📘 Target Point: 163.911
🎯 Bullish move expected if price confirms bounce.
📈 Potential target marked with a clear label.
📉 EMA 70 (Red Line):
➖ Acting as resistance near 162.518
⚠️ Price must close above this level for stronger bullish confirmation.
📌 Summary:
✅ Buy Zone: 162.000 – 162.200 (RBS + RBR)
🔁 Retest Zone: ~162.500
🎯 Target: 163.911
⚠️ Watch for Rejection below EMA or resistance zone.
Long
