EUR/JPY Tests Key Support at 156.00 – Breakdown or Bounce?

📉 EUR/JPY edges lower to 156.38 (-0.22%) as sellers pressure key support.

🔎 Technical Setup:

156.00 major horizontal support holding for now.
Bearish bias intact below 50-day EMA (160.08) & 200-day EMA (161.87).
Break below 156.00 could open downside toward 152.50-153.00.

📊 Momentum Indicators:

RSI at 36.62 → Not oversold yet, but approaching key levels.
MACD remains bearish, confirming ongoing downside pressure.

⚠️ Key Levels to Watch:

Bulls must defend 156.00 or risk further selling pressure.
A break & close below 156.00 could accelerate losses toward 152.50.
Bulls need a reclaim of 158.50-160.00 for trend reversal.

🚀 Decision point for EUR/JPY – will 156.00 hold?

📌 Watching daily close for confirmation.

- MW