A bullish trend condition in EURJPY remains intact and recent weakness between Mar 18 - 20 appears corrective. This sell-off allowed an overbought condition to unwind. Pivot support is 160.72, the 50-day EMA. A break of it would signal potential for a deeper retracement. For bulls, sights are on 164.08, the Jan 24 high. It has been pierced, a clear break of this hurdle would strengthen a bullish condition and open 164.90, the Dec 30 ‘24 high.
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Significant dovish adjustment over the week: