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- EUR/JPY is trading around the 164.00 region after a modest decline in Friday’s session.
- The broader bias remains upward, as the supportive direction indicators compensate for mixed momentum signals.
- The main support levels sit slightly less, while the resistance corresponds to the last levels.
The EUR/JPY pair fell slightly on Friday, as it was traded near the 164.00 region after the European session, which reflects a modest decline in recent gains. Despite the simple, broader decline Expectations It is still positive, supported by a range of increased averages that continue to provide a strong technical base. The momentum is mixed in the short term, but the total structure remains clear clearly.
Technically, the pair is overwhelmed by a general emerging sign. About 56 neutral power index, which indicates a balanced momentum without immediate pressure at the peak of purchase. Confirming the different moving average rapprochement on the broader upward trend with a purchase signal, which enhances the bullish tone. Meanwhile, the Williams Percy Range and Bull Bear group remains neutral, indicating that despite the slowdown of momentum, it has not yet been reflected.
The ups of the bullish structure is clearly defined by determining the location of the main moving averages. Simple moving averages are 20 days, 100 days and 200 days less than current levels and maintain upward slopes, providing strong basic support. Also, the simple and 10 -day younger moving averages are also sitting below the market, which enhances positive expectations as the husband approaches the Asian session.
Support levels are determined in 163.07, 162.94 and 162.87. Resistance is seen in 163.94, 164.00 and 164.10. The ongoing batch over the immediate resistance area may emphasize a wider outbreak, while support below would lead to a short -term correction without significantly changing the total direction.
