Range trading continues in EUR/JPY and intraday bias remains neutral. Risk will now be on the downside as long as 38.2% retracement of 187.93 to 177.82 at 181.68 holds. On the downside, firm break of 177.82 will extend the decline from 187.93 to 175.26/41 support.
In the bigger picture, price action from 187.93 is seen as a corrective pattern to up trend from 154.77 (2025 low). Deeper fall cannot be ruled out, towards 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.
