- The EUR/JPY operates near the 164.00 zone after a modest setback before the Asian session.
- The general trend remains bullish, with the trend indicators aligned up.
- Support levels remain below while short -term indicators remain neutral.
The Eur/JPy pair dropped slightly on Friday, but continues to operate near the 164.00 zone as the market travels to the Asian session. Although the price action has softened since the recent maximums, the torque remains comfortably within the average range of the movement of the day. The setback has not altered the broader bullish perspective, which is backed by increasing trend indicators through multiple time frames.
Technically, EUR/JPY maintains its upward posture. The convergence/divergence of the mobile average remains in a purchase mode, confirming the continuous bullish impulse despite today’s fall. The relative force index is about 61, indicating a neutral impulse with a slight bullish inclination. Both the stochastic K K and the average directional index are also neutral, indicating that there is no clear exhaustion in the short term or an emerging tendency.
The upward case is clearly backed by the trend indicators. 10 -day exponential and simple mobile socks are increasing below the current price action, providing immediate support. Strengthening the long -term perspective, simple mobile stockings of 20 days, 100 days and 200 days are all positioned below and as an upward trend, suggesting that the underlying strength remains intact.
The support is found in 163.35, followed by 162.79 and 162.63. The resistance is expected to be around the maximums recent, with any rupture above probably extending the upward movement even more in the next sessions.
