Analysis of the EURJPY Currency Pair for 02.02.2026

Currency pair analysis based on modified wave analysis, Fibonacci levels, and price channels.

02.02.2026.     

EURJPY

       The trend is bearish. The currency pair is trading within the range of the 365 and 135 EMA. A bullish truncated wave structure has been completed with a breakout of the ascending channel. The Awesome Oscillator shows bearish divergence, while the Stochastic Oscillator indicates overbought conditions.

Trading idea:

Sell on the formation of a descending wave structure.

Stop Loss: 184.290.

Target levels: 182.600; 182.000.