EUR/JPY’s steep decline suggests that rebound from 179.34 has completed at 186.00. Fall from there is seen as another falling leg of the corrective pattern from 187.93. Intraday bias is back on the downside for 179.34 support next. On the upside, above 183.61 minor resistance will turn intraday bias neutral first.
In the bigger picture, price actions from 187.93 are likely at least correcting whole up trend from 154.77 (2025 low). Deeper fall could be seen to 175.41 cluster support (2025 high) and 38.2% retracement of 154.77 to 187.93 at 175.26 before completion. For now, risk will stay on the downside as long as 186.00 resistance holds, in case of rebound.
