EUR/JPY Price Analysis: The first upside barrier will emerge above 169.80

EUR/JPY attracts some buyers around 169.50 inMonday’searly European session. The positive outlook of the cross remains intact above the key EMA, with a bullish RSI indicator. The first upside target will emerge at 169.82; the initial support levelisseenat168.78. The EUR/JPY cross gains traction near 169.50 duringtheearly European trading hourson Monday.

A break above the latter will expose an all-time high of 171.60, en route to the 172.00 level. On the other hand, a low of May 17 at 168.78 acts as an initial support level for the cross. The additional downside filter to watch is the lower limit of the Bollinger Band at 167.79, followed by the 100-period EMA at 167.50, and then a low of May 16 at 167.33. A breach of this level will see a drop to a low of April 29 at 165.66. EUR/JPY four-hour chart EUR/JPY Overview Today last price 169.

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