FxWirePro- EURJPY Trade Idea

The EUR/JPY  trades with no direction ahead of Trump tariff uncertainty. It hit an intraday low of 161.04 and is currently trading around 161.46. The intraday outlook is bearish as long as the resistance 163.35 holds.

Germany's advance CPI numbers announced today, March 31, 2025, show a small moderation in the annual rate of inflation to 2.2% from the previous 2.3% in February and a steady month-on-month advance of 0.4% for March. The core rate of inflation remains in the sights of the ECB, as this shows the enduring pressures on prices. These data are important, as they have implications for how inflation trends can affect the ECB's future monetary policy"

Technical Analysis:

The EUR/JPY pair is trading below the 34,55 EMA and 200-4H EMA in the 4-hour chart.

• Near-Term Resistance: Around 162 a breakout here could lead to targets at 162.60/163/163.36/164.20/165/166.65/167.
   
• Immediate Support: At 161– if breached, the pair could fall to 160.40/ 160.75/59.70/159.25/158.85.
   
  Indicator Analysis 4-hour chart):
• CCI (50): Bearish
• Average Directional Movement Index: Bearish

Overall, the indicators suggest a weak trend

Trading Recommendation:

It is good to sell on rallies around 162.48-50 with stop loss at 163.20 for a TP of 160.