The EUR/JPY cross gains momentum around 157.48 during the early European session on Monday. The cross bounces off Friday’s low of 157.05 amid the impr
EUR/JPY currently trades around157.48, up 0.18% on the day. The key resistance level is located at 157.55; 157.00 will emerge as a key support level. The cross holds below the 50- and 100-hour EMAs; RSI indicator shows the non-directional movement. ovement in risk sentiment. However, the safe-haven flow could cap the upside of the cross.
A break above the latter will see the next barrier near a psychological round mark and a high of October 13 at 158.00. Further north, the additional upside filter is seen around a high of October 2 of 158.45, followed by a high of September 13 of 158.60. On the downside, the lower limit of the Bollinger Band, a low of October 13, and a round figure at 157.00 will emerge as a key support level. The next contention level will emerge at 156.51 .
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