EUR/JPY Price Outlook – Trade SetupEuro / Japanese YenFOREXCOM:EURJPYATFX_Global📊 Technical Structure EURJPY EUR/JPY staged a sharp rebound after briefly breaking below the 183.20–183.30 support zone, forming a clear false breakdown structure. Price was quickly rejected from the downside and recovered back above the support area, indicating strong buying interest at lower levels. Currently, the pair is holding above 183.50, suggesting a short-term bullish recovery phase is underway. As long as price remains supported above the key demand zone, the technical structure favours a continuation toward the upper resistance band rather than a renewed sell-off. 🎯 Trade Setup (Bullish Bias) Entry Zone: 183.20 – 183.35 Stop Loss: 183.17 Take Profit 1: 183.75 Take Profit 2: 183.88 Risk–Reward Ratio: Approx. 1 : 2.42 📌 Invalidation A sustained break and close below 183.00 would invalidate the bullish rebound setup and shift the short-term bias back to the downside. 🌐 Macro Background On the macro side, the Euro has found near-term support after the European Union signalled coordinated efforts to counter potential U.S. tariff actions, helping stabilize sentiment toward the single currency. Meanwhile, the Japanese Yen remains vulnerable despite repeated verbal warnings from Japanese officials regarding potential intervention. Weak Japanese industrial production data has also weighed on JPY fundamentals, reducing downside pressure on EUR/JPY and allowing technical rebounds to develop more easily at key support levels. Overall, the macro backdrop does not contradict the current technical rebound structure. 🔑 Key Technical Levels Resistance Zone: 183.75 – 183.88 Support Zone: 183.20 – 183.30 Bullish Invalidation: Below 183.17 📌 Trade Summary EUR/JPY has rejected the lower support zone and regained upward traction. As long as price holds above 183.20, the short-term bias favours a buy-on-dips approach, targeting a rebound toward the upper resistance area. ⚠️ Disclaimer This analysis is for reference only and does not constitute investment or trading advice. Financial markets involve risk, and traders should manage positions according to their own risk tolerance.