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The EUR/JPY cross is currently trading near 184.15 during the early European session, with thin volumes expected due to the Good Friday holiday. The pair has shown strength near this level, with the 100-day exponential moving average (EMA) acting as a key support. Technical indicators suggest a bullish bias persists as long as the price remains above this critical moving average.
For traders, the 100-day EMA is a significant technical level that often influences medium-term trends. A sustained break above 184.15 could signal further upward momentum, while a drop below the EMA might trigger a reassessment of the bullish outlook. The holiday-thin volumes may limit immediate volatility, but the broader EUR/JPY trend remains a focal point for forex participants.
Looking ahead, market participants should monitor the 100-day EMA's resilience and potential resistance levels around 185.00. The cross's performance could also be influenced by broader EUR/USD dynamics and JPY carry trade flows. Traders may use this period of lower liquidity to refine entry strategies around key technical levels.
