EUR/JPY Surges Higher Amid Strong Rebound from Rising 55-Week MA

The EUR/JPY currency pair has continued its upward trend from its low of 179.34, despite a brief retreat in price.

Intraday bias remains bullish for the resistance level at 187.42, with a firm break through this level potentially leading to a retest of the high at 187.93.

On the other hand, if the pair falls below its minor support at 183.90, intraday bias will shift to neutral.

In the bigger picture, the strong rebound from the rising 55-Week Exponential Moving Average (W EMA) of 180.23 has maintained the upward trend from the low of 114.42 in 2020 intact.