EUR/JPY Price Forecast: Key Resistance at 174.50 Could Decide Next Move
EUR/JPY is trading near 174.00, getting close to an important resistance level at 174.50. This level is strong because it matches recent highs. If EUR/JPY rises above 174.50, it could move higher toward 175.43, a level last seen in July 2024.
The pair is showing positive signs as it stays above the 100-day EMA, which acts as support. The 14-day RSI is 61.05, indicating the pair has bullish strength.
On the downside, support levels are at 173.51, 172.36, and 171.27. If the price falls below these points, the upward trend may slow or reverse.
Impact:
EUR/JPY might keep rising if it stays above 174.50. But a drop below 173.51 could lead to a pullback or change in trend.
