EURJPY DAILY EUR/JPYOANDA:EURJPYWallStreetVeteran✅ EUR/JPY – Market Cycle Position Conclusion: 📌 EUR/JPY is in the late stage of a Distribution Phase, transitioning toward the early Markdown Phase. This conclusion is based on multiple signals visible on your chart: 🔍 Why This Is a Distribution → Markdown Transition? 1. Price has reached major Fibonacci & structural resistance The chart shows: Price touching the 0.75–1.0 Fibonacci zone, historically a turning area. Strong resistance around 179–181, which has repeatedly rejected upside. This is classic distribution territory. 2. Loss of bullish momentum On the chart: The rising trendline is being tested and partially violated. Candles show lower highs forming, indicating exhaustion. histogram visually shows reduced bullish expansion. This signal often appears right before a markdown begins. 3. projection box matches a distribution topping pattern red scenario path matches: UTAD-like behavior (Upthrust After Distribution) Sharp drop into the 0.5 and 0.618 retracement zones The drawn path is consistent with a Wyckoff Distribution to Markdown. 4. Market structure shows break-of-structure attempts The chart indicates: A local BOS (Break of Structure) to the downside. Followed by weak bullish pullbacks (LPSY behavior). This is typical behavior during the transition to markdown. 📉 Where this places the market cycle: ✔ Accumulation – Already completed. The long move from ~155 to 180 shows a strong accumulation → markup trend. ✔ Markup – In its final stage. The trend is extended and overbought. 🔶 Distribution (Current Phase) You can clearly see: Sideways compression at the top Lower highs Trendline weakening Reaction to major fib levels 🔻 Next: Markdown Phase (probable) Your projection to ~168–170 aligns with markdown retracement targets. 🎯 Summary EUR/JPY is currently in the LATE DISTRIBUTION phase and is preparing for MARKDOWN.