The EUR/JPY pair maintained its bullish momentum, breaking above the 160.00 level on Wednesday and reinforcing the previously anticipated upward trend. The pair remained firmly positioned above the 55-day moving average (MA55), reaching a new high at 161.28.
The 160.00 level now serves as a key support zone, strengthening the bullish outlook. Further upside momentum is expected, with the next target at 161.65. A successful break above this level could pave the way for an extended rally toward the 162.65 resistance.
Key Levels to Watch:
- Support: 160.00
- Resistance: 161.65, 162.65
Trend Forecast: Bullish
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