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EURJPY breakout confirms downside momentum

I see a confirmed breakout on EURJPY daily, pointing to further declines.

Multiple markets in focus

On EURUSD, the three-day chart shows a breakout attempt below a significant support zone. A daily close under that level would reinforce the bearish pressure and likely trigger a deeper selloff. The risk-reward on shorts remains attractive given the structural weakness.

EURJPY has already confirmed a breakout beneath a strong daily horizontal support. The probability of a continued decline is high. I am watching for a retest of the broken level before adding to shorts, but the momentum is clearly bearish.

GBPAUD is testing a confluence of a falling trendline and horizontal resistance. A rejection here would favor a retrace lower, but a clean breakout above would flip the bias bullish. I am waiting for confirmation before committing to a direction.

Silver is approaching a major historical demand zone on the daily chart. Given the oversold conditions, a bounce is likely. However, I would need to see a reversal pattern or strong buying volume before entering long—patience is key in this setup.

Comments5

  • Priya Nair
    The daily breakdown is clear, but check the 4H for a possible pullback to the broken support zone before the next leg lower. 📈
  • Been hearing breakout calls for weeks. This pair chops around more than it trends. Show me a clean close below 156.50 before I believe the downside is real.
  • Interesting - the daily close below that support zone does look convincing. But aren't we risking a squeeze with EUR already so oversold on shorter timeframes? 🤔
  • Level breakdown below 157.20 on daily close is the key confirmation. Short bias aligns, but I'd wait for a retest of 156.80-157.00 for better entry.
  • Strong agree. 158.50 failed to hold, and the daily close below 157.80 confirms the breakdown. Shorts make sense until 155.00. 🚀🔥