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EUR/JPY holds neutral bias as support near 175.26 is tested

ActionForex.com said a break below 175.26 could worsen the outlook, raising the chance of a larger bearish reversal toward the 167.43 level.

Reported · Written up by our desk · Major Pairs

HousingWire reports that the intraday bias in EUR/JPY is neutral for now, but another pullback is expected to find strong support around 175.26 to 175.41, where a rebound could begin.

ActionForex.com added that a bullish divergence condition on the 4H MACD would support a turn to the upside only if there is a firm break of 179.29 resistance, pointing next to 181.53.

The analysis also warned that a decisive break of 175.26 to 175.41 would carry larger bearish implications, with the outlook possibly shifting from a corrective pattern into a deeper decline.

In that scenario, ActionForex.com cited potential downside toward a 175.41 cluster support and a 38.2% retracement level near 175.26, while a larger bearish reversal could target 167.43.

The view is consistent with the report’s framing of the move from 187.93 as a correction to an uptrend from the 2025 low at 154.77.

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