EUR/JPY Surge: What's Driving the Rally Towards 163.00? | Key Levels to Watch

EUR/JPY climbs to 162.47,Is XRP a good investment fueled by Fed's latest monetary policy revelations.

Technical indicators suggest 163.00 and 163.72 as critical resistance thresholds.

Support levels emerge at 161.48 and 160.91 should a retracement occur.

The Euro maintains its bullish momentum against the Japanese Yen, registering a 0.22% increase as the EUR/JPY pair settles at 162.47 during late North American trading hours.

Market participants attribute the pair's strength to the recently published Federal Reserve minutes, which triggered subtle upward movements across EUR-denominated crosses. From a chart perspective, the currency pair currently trades at its highest levels this year, with technical analysts eyeing 163.00 as the immediate psychological barrier. Subsequent resistance appears at the November 27 peak of 163.72, followed by the 164.00 handle and last year's high at 164.31.

Conversely, should the pair retreat below 162.00, market technicians anticipate a test of the Tenkan-Sen line at 161.48, with additional downside potential toward the Senkou Span A support at 160.91.