- EUR/JPY is trading around 164.00 zone after a moderate pullback in Friday session.
- The broader bias remains bullish, with the indicators of the trend of the trend that turns the mixture -mixed momentum signals.
- The main levels of support are sitting below, as the resistance is aligned near the recent highs.
The EUR/JPY pair was somewhat breaks on Friday, trading near 164.00 zone after the European session, reflecting a moderate pullback from recent acquisitions. Despite the minor sinking, the broader perspective remains positive, supported by a cluster of increasing moving averages that continues to provide a strong technical base. The short-term momentum is mixed, but the overall structure remains clearly bullish.
Technically, the pair glistened a bullish general signal. The Index of the Kamag -child strength is neutral around 56, indicating a balanced momentum without immediate overbought pressure. Moving the average convergence of the scene confirms the broader extension with a purchase signal, strengthening the bullish tone. Meanwhile, the range of Williams Percent and Bull Bear Power remains neutral, suggesting that while the momentum slows down, it has not been reversed.
The bullish structure is clearly defined by positioning major transitions of averages. The 20-day, 100-day, and 200-day simple moving averages are all below the current levels and maintain upward slopes, offering strong underlying support. The 10-day exponential and simple moving averages also sat under the market, reinforced a positive outlook as the pair approached the Asian session.
Support levels were identified at 163.07, 162.94, and 162.87. The resistance is seen at 163.94, 164.00, and 164.10. A prolonged push above the immediate resistance zone can confirm a wider breakout, while a rest below the support is likely to trigger a short-term correction without significant change in the overall trend.
Sunny chart
