- EUR/JPY trades close to 164.00 zone after a moderate pullback leading to Asian session.
- The overall bias remains bullish, with the trend indicators aligned upside down.
- The support levels held below while the short -term indicators remain neutral.
The EUR/JPY pair is slightly lower on Friday but continues to trade near 164.00 zone as market transfers in the Asian session. While price action has departed from the recent highs, the pair remains comfortable within the mid -sun movement range. The pullback has not changed the broader views of bullish, supported by increasingly raising indicators in many timeframes.
Technically, EUR/JPY retains its bullish bearing. Moving the average convergence remains in the purchase mode, proving the ongoing reversal momentum despite the sinking today. Kamag -child index index hovers near 61, which signed a neutral momentum with a slightly bullish tilt. Both the stochastic %K and the average direction of the index are also neutral, which indicates no clear short -term fatigue or emerging treasure.
The bullish case is clearly -back of trend indicators. The 10-day exponential and simple transfer of averages increases under current price action, providing immediate support. Adopting a longer perspective, the 20-day, 100-day, and 200-day simple moving averages is all positioned below and the trending upward, suggesting the underlying strength remains intact.
The support was located at 163.35, followed by 162.79 and 162.63. It is now expected to fight around recent highs, with any rest of the above that is likely to expand the bullish leg in the upcoming sessions.
Sunny chart
