EUR/JPY Neutral Position Amid Support and Resistance Levels

The EUR/JPY currency pair remains in a neutral position for now, but there's still a risk of another rise as long as the support level at 177.82 holds.

A firm break above the 38.2% retracement of the recent drop from 187.93 to 181.68 would likely extend the rebound from the short-term bottom at 177.82, with a target price of 184.06 (61.8% retracement).

In the bigger picture, the current price action is viewed as a corrective pattern within an uptrend from the 2025 low of 154.77.

The potential for deeper falls remains on the downside as long as the resistance level at 186.00 holds, with key support levels found at the cluster support area around 175.41 (2025 high) and the 38.2% retracement of the uptrend from 154.77 to 187.93 at 175.26.