The Euro to Japanese Yen (EUR/JPY) currency pair showed renewed bullish momentum at the end of last week, breaking through the key resistance level at 164.85. This upward move signaled a shift in market sentiment and paved the way for further gains, with the pair reaching 165.28 during Friday’s session.
Technical indicators continue to support the bullish outlook. The stochastic oscillator is approaching the 80 level, indicating sustained positive momentum and increasing the likelihood of additional upward movement.
If this trend persists, EUR/JPY is expected to test the 165.70 resistance level in the near term. A successful breach of this level could lead the pair toward the next major target around 166.45.
Key Levels to Watch (June 9, 2025):
Support: 164.65
Resistance: 165.70
Trend Outlook: Bullish
Traders should remain alert to confirmation signals, as continued strength above 164.85 could reinforce the bullish trajectory and offer potential buying opportunities in the short term.
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