Last week, the EUR/JPY pair surpassed the level of 159.47 and reached 159.75 before experiencing a reversal. As of now, the downside movement has been limited above 156.85, resulting in a neutral bias for this week initially. If the price breaks below 156.85, it will shift the bias to the downside towards the 55-day Exponential Moving Average (currently at 156.17) and potentially lower levels. Conversely, if there is a break above 159.75, it will indicate a continuation of the larger uptrend instead.
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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.