EURJPY Chart Technical Outlookheads north cautiously toward 159.60
EUR/JPY broad bias is bullish. Prices broke above the highlighted bearish corrective channel.
Technical indicators and retailers’ sentiment support the bullish move.
I expect more upside price action and dips to find buyers.
There are three variables to consider: the expected BoJ intervention, the ECB meeting this week, and the risk sentiment driven by the geopolitical risks. Those factors can challenge the bullish scenario.
Resistances: 159.60, 160.60
Supports: 158.50, 157.80