EUR/JPY bounces from three-week low to 161.96, forming a 'hammer' pattern suggesting potential upside.
Mixed technical indicators prompt caution, with the RSI nearing a bearish shift as the pair eyes the 162.04 Tenkan-Sen.
Bears and bulls vie for control, with critical supports and resistances set around key psychological and technical marks.
On Thursday, the EUR/JPY registered a volatile session that saw the pair dive to a three-week low of 160.55. However, the losses were short-lived amidst the ECB’s hawkish hold, and the session finished with losses of 0.43%. As the Friday Asian session begins, the cross trades at 161.96, down 0.10%.
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