EUR/JPY on the Brink: Potential Bearish Breakdown Looms After Months of Consolidation
The EUR/JPY pair is currently teetering on the edge of a potential bearish breakdown following a multi-month consolidation phase. After experiencing a downturn in the Euro Currency Index from a September 2024 high of 112.14 to a January 2025 low of 101.92, the Euro has been consolidating. Speculative net short positioning has surged, with a significant rise in net short positions of large speculators reaching -104,399 contracts recently. Traders should carefully analyze market reactions and position themselves accordingly, as the outlook for EUR/JPY hangs in the balance. Understanding market sentiment will prove essential in navigating this currency pair’s future.
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