EUR/JPY Eyes 164.80 Amid Bullish Momentum
The EUR/JPY pair exhibits a strong bullish trend, with prospects of reaching the 164.80 level soon. Recent movements reflect a recovery fueled by the divergence between the Eurozone and Japan's monetary policies. The European Central Bank (ECB) maintains higher interest rates, while the Bank of Japan (BOJ) continues a cautious approach to normalization, leading to a weaker yen.
A break above 163 signals bullish momentum, possibly extending to 164.50-164.80 if supported by favorable eurozone data or dovish BOJ commentary. Caution is needed for potential resistance challenges.
Technical Factors:
- Key Resistance Levels: 163.00, 164.80
- Key Support Levels: 162.00, 161.50
A break above 163 signals bullish momentum, possibly extending to 164.50-164.80 if supported by favorable eurozone data or dovish BOJ commentary. Caution is needed for potential resistance challenges.
Technical Factors:
- Key Resistance Levels: 163.00, 164.80
- Key Support Levels: 162.00, 161.50
Trade closed: target reached
Expected Level Reached @164.80 
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Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.