EURJPY — Waiting for Seller ConformationEuro vs. Japanese YenFX:EURJPYKinkiHuangEURJPY is currently giving us an interesting setup on the Daily timeframe. Price has formed a larger Head & Shoulders structure and has already broken below the neckline around the 180.8 area. We are now seeing price bounce back towards this broken neckline, which could potentially turn into resistance. For now, I’m not rushing into the SELL. I’m waiting to see whether sellers step back in around the 20 EMA / neckline area. What I’m watching: 🔸 Neckline: ~180.8 🔸 20 EMA: ~181.0 🔸 First downside area: ~177.2 🔸 Larger target: ~173–175 market gap Another interesting point on this chart is the market gap from last year around the 173–175 region, which has yet to be fully closed. If the 20 EMA and neckline hold as resistance and we get clear bearish confirmation, I personally see potential for EURJPY to continue lower towards 177.2 first. Beyond that, based on the current price structure, I’ll be watching whether the larger bearish move develops over the coming months towards the 173–175 gap area. Of course, the gap itself does not guarantee price will return there. The setup would become less convincing if EURJPY successfully reclaims the neckline and starts holding above the 20 EMA again. Head & Shoulders formed ✅ Neckline broken ✅ Retest in progress 👀 Waiting for seller confirmation 📉 Unclosed market gap below 🎯 For now, patience. I want the sellers to confirm the setup before taking the trade. This is my personal market analysis and not financial advice. Always manage your own risk. #EURJPY #Forex #ForexTrading #HeadAndShoulders #PriceAction #TechnicalAnalysis #JapaneseYen #TradingView #bottradingwithkinki