EUR/JPY: Bullish Reversal in Progress?EUR/JPYOANDA:EURJPYmywork072EUR/JPY has been in a downtrend, but recent price action suggests a potential reversal is forming. Key support at 155.821-156.042 has held strong, with multiple rejection wicks (highlighted in red ovals), indicating buying pressure at these levels. The double bottom pattern (bullish reversal structure) is evident, further strengthening the case for an upside move. The Fibonacci retracement levels align with key resistance zones, with 161.8% (160.987) and 164.774 as major upside targets. 📈 Bullish Confirmation & Upside Potential: ✅ Price is bouncing from a strong support zone 🚀 ✅ Breakout above the descending trendline could trigger further buying momentum ✅ Moving Average (50-day) is acting as dynamic resistance; a break above it can fuel the rally 🎯 Key Targets: 🔹 First target: 158.000 (Psychological Level) 🔹 Second target: 160.987 (Fibonacci 0.618 level) 🔹 Final target: 164.774 (Major Resistance Zone) 🔻 Risk Management: ❌ Stop-loss below 155.821 to protect against further downside