EUR/JPY Forecast: Bullish Bias Holds Above 170.50 Despite EMA Break

The EUR/JPY pair trades near 171.90 after breaking below its nine-day EMA. While short-term momentum has softened, the pair maintains a bullish structure within an ascending channel. RSI stays above 50, suggesting further upside potential. Key resistance stands at 172.15, with a breakout potentially targeting the 2024 high of 173.25. Support lies at 170.50; a break below may trigger a deeper pullback toward 168.50

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