EUR/JPY extended its winning streak for the fifth consecutive session, reaching a new all-time high of 179.82 during European trading hours on Thursday. The currency pair broke above the upper resistance of an ascending wedge pattern, indicating significant buying pressure and signaling a bullish breakout. This movement reflects the ongoing strength of the euro against the yen, driven by favorable economic data and market sentiment.
As EUR/JPY approaches the psychologically significant level of 180.00, traders are keenly watching for further momentum. The breakout from the ascending wedge suggests that bullish sentiment may continue to dominate, attracting more participants into the market. If the euro manages to maintain its strength, this could lead to further gains against the yen, with potential implications for broader forex dynamics involving other major pairs, including USD/EUR.
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Data Source: FX Killer Analysis Team Updated: 2025-11-13 08:50
Disclaimer: This article is for reference only and does not constitute investment advice. Forex trading involves risks; please make decisions carefully.