EurJpy seems to be at a price point that seems neutral in my opinion. Considering price has been bearishly retracing on the daily chart, there could still be some selling steam for the future. But looking at the short-term, it seems that the buyers have been in control. A major level that could dictate the sentiment of this pair is the Daily Significant Level that we've recently approached.
I'll be waiting to see if price has a bullish break and retest of this level, which in that case would trigger buy setups. But in the event of strong bearish rejection at this current level, we could predict a bearish rally towards the downside. The next couple of candle closures will be very important for this pair. Just patience and discipline for now.
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