EURJPY tests major ceiling at 164.07–164.17 as momentum builds ...Middle East

The move has the USDJPY sharply higher, but also the EURJPY which is stretching higher to a key 2025 ceiling defined by resistance highs between 164.07 and 164.17> There are 3 prior highs (see red numbered circles) that topped out in that narrow area since early 2025. As a result, this area represents a major decision point for buyers and sellers alike.

The 100-day MA at 161.056 (the price has been above that MA since April 10)

The 100 and 200 bar MAs on the 4-hour chart around 162.05

Key levels to watch:

Support: 163.35, 163.20 (swing area), then 162.05 area (start of MA cluster).

This article was written by Greg Michalowski at www.forexlive.com.

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