- The EUR/JPY is negotiated near the area of 164.00 after strong profits in the session on Thursday.
- The general trend remains bullish, supported by mobile socks in ascending trend.
- The immediate support is maintained below, while the resistance is aligned near the maximums.
The EUR/JPY torque rose on Thursday, negotiating near the 164.00 zone after the European session, reflecting a strong bullish tone as the pair approaches the Asian session. The price action remained near the top of the range of the day, suggesting that buyers maintain control despite some mixed short -term signs. The broader technical structure remains favorable, backed by a group of rising mobile socks.
From a technical perspective, the upward trend is clear. The relative force index remains in a neutral reading about 58, reflecting a constant impulse without immediate overcompra conditions. The indicator of convergence/divergence of mobile socks prints a purchase signal, confirming the positive tone, while the average directional index remains neutral, indicating that the strength of the trend is present but is not extreme. The raw material channel index also remains neutral, adding to the vision that the upward trend is gaining traction without being overextended.
The base of the upward case comes from mobile socks. Simple mobile means (SMA) of 20 days, 100 days and 200 days are all positioned well below the current price levels and continue to incline upwards, providing strong underlying support. The exponential and simple mobile socks (EMA and SMA) of 10 days further reinforce this structure, indicating that the broader trend remains intact and buyers retain the advantage.
Support levels are identified in 162.84, 162.80 and 162.66. The resistance is likely to emerge near the recent maximums, with a break above this area potentially confirming the next rise stage. A sustained movement above these levels could open the door to more profits in the following sessions.
Daily graph
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
