EUR/JPY Price Analysis: Technical outlook
The EUR/JPY has printed a new two-day low at 162.21, but it failed to close below the March 4 swing low of 162.53, which could open the door to challenge the 162.00 figure. After bouncing off the weekly lows, the pair hovers around the Tenkan-Sen level at 162.70. A decisive breach could open the door to test the 163.00 mark, followed by the November 27 high at 163.72, followed by the 164.00 figure.
On the other hand, if sellers push the exchange rate below 162.50, they could drag the spot price toward 162.00. Once cleared, the next support would be the February 29 low of 161.68, followed by the Kijun-Sen at 160.90
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