A bullish theme in EURJPY remains intact and recent weakness is considered corrective. A print earlier this month above key resistance at 164.19, the Mar 18 high, is a positive development for bulls. A clear break of this hurdle would confirm a resumption of the upleg that started Feb 28, and open 164.90, the Dec 30 ‘24 high. First key support to watch is 161.82, the 50-day EMA. A clear break of it would undermine the bullish theme.
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EURJPY continues to trade in a volatile manner. Recent weakness still appears corrective, and the strong rally off Monday’s low reinforces this theme. Key short-term support has been defined at 158.30, Apr 7 low. A break of this level is required to signal scope for a deeper retracement. For bulls, a resumption of gains would expose 164.19, the Mar 18 high and the bull trigger.
The EU is implied to be included in the US's announcement of a 90-day pause/10% rate, per a White House official cited by Bloomberg - though the article doesn't address the Mexico/Canada ambiguity mentioned earlier: "Countries that were hit with the higher, reciprocal duties that went into effect Wednesday will now be taxed at the earlier 10% baseline rate applied to other nations, with the exception of China, according to a White House official."
Bearish - call unwinds and vol sales: