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EUR/JPY Ascends Beyond 158.30 Amid Hawkish ECB Comments and Upcoming Data Releases

EURJPY Currency Pair Bullish RichDadph

The EUR/JPY currency pair has edged above 158.30, largely influenced by ECB President Christine Lagarde’s hawkish stance on inflation and interest rates. The pair faces resistance at 158.18 and could establish new trading ranges depending on upcoming economic data releases. The Bank of Japan maintains its loose monetary policy, offering a contrasting backdrop.

EUR/JPY Faces Downward Pressure: Technical Support Looms Near 156.00

EURJPY Currency Pair RichDadph

The EUR/JPY currency pair faces short-term bearish pressure, declining to lows near 157.00. Key support levels emerge at 156.00, 152.50, and 151.40, marked by various SMAs. Despite the immediate downturn, the longer-term trend remains bullish, supported by the 200-day SMA at 147.51. The situation provides both short-term and long-term trading opportunities, all illustrated in the daily technical chart.