The EUR/JPY is facing downward pressure, decreasing by 0.03% due to suspected FX intervention last week. The current trading price is 172.12.
On a technical note, the EUR/JPY’s price action remains positive as it stays above the Ichimoku Cloud, indicating a potential for further upside movement. Key support levels are at 172.00, 171.58, and 170.56, while resistance levels are at 172.45 and 173.43.
The Relative Strength Index (RSI) suggests that sellers are active, with the RSI hovering around the neutral line of 50. If the pair falls below 172.00, it may face further downward pressure, with support levels at 171.58, 170.56, and 170.00. On the other hand, resistance levels are at 172.45 and 173.43.
In terms of trading, the EUR/JPY could consolidate in the short term. It is important to monitor key support and resistance levels for potential trading opportunities.