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The EUR/JPY currency pair edged higher late during Friday’s North American session, with buyers reclaiming the 160.00 figure on a risk-on impulse, as US equities traded with solid gains. As of the time of writing, the cross-pair was seen exchanging hands at around the 160.07 mark.After dipping inside the Ichimoku Cloud (Kumo) structure and hitting a weekly low of 158.08, the EUR/JPY pair recovered ground and regained key resistance levels, with buyers clearing the Tenkan-Sen formation at 159.83, which opened the door toward the 160.00 mark.If buyers could achieve a close above that point, it could open the door to challenge the next cycle high at 161.81, the Jan. 19 high. Further upside could be seen at the 162.00 level.Failure at the 160.00 figure could motivate sellers to drive prices inside the Kumo formation towards the first support level seen at the Tenkan-Sen structure, followed by the 159.00 figure, ahead of challenging the Kijun-Sen formation at the 158.47 mark.
EUR/JPY Price Action – Daily Chart
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EUR/JPY Technical Levels
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