EUR/JPY has damaged above key technical resistance at 164.60, regaining upward momentum after months of consolidation. The pair now trades firmly above its 50-day shifting common, with bullish MACD signaling additional upside towards October 2024 highs and targets at 166.70–168.40, offered 164.60 holds as help, Société Générale’s FX analysts observe.
EUR/JPY clears 164.60 resistance, MACD indicators renewed upside
“EUR/JPY has lately established itself above the 50-DMA and has now overcome the higher restrict of the vary inside which it advanced since final December (164.60) highlighting regaining upward momentum. That is additionally denoted by the day by day MACD, which stays anchored inside optimistic territory.”
“The pair could head increased progressively in the direction of October 2024 excessive and projections close to 166.70/167.10 and 168.40. Defence of the higher band of earlier vary at 164.60 will likely be essential for persistence in up transfer.”
