Can EUR/JPY be bullish again at the end of the week?

<p>&nbsp;Can the price surge continue on the EUR/JPY currency pair chart towards the end of the week?</p><p><br /></p><p>On Tuesday yesterday, prices accelerated higher in the Asian session as the market reacted to the monetary policy meeting of the central bank of Japan.</p><p><br /></p><p>Interest rates were expected to be kept at -0.10% before a follow-up speech by governor Kazuo Ueda was seen as hinting for looser policy to continue.</p><p><br /></p><p>Thus, the price is seen to continue the continuous surge in trading in the European session yesterday.</p><p><br /></p><p>But in the New York session, the price retreated back down after the previous increase approaching the level of 158,600.</p><p><br /></p><p>The euro continued to trade in the Asian session this morning (Wednesday) with a bleak tone despite being seen to have gained an advantage while the US dollar currency was weakening again since yesterday.</p><p><br /></p><p>The price movement on the EUR/JPY chart is seen to be still in an upward trend moving above the support line of the Moving Average 50 (MA50) on the 1-hour time frame, only slightly retreating in the Asian session today.</p><p><br /></p><p><br /></p><p>The price increase is still expected to occur and continue to overcome the height reached yesterday.</p><p><br /></p><p>The next price will target the rise reaching the concentration level around 1600.00 while maintaining the bullish trend movement.</p><p><br /></p><p>However, it is not impossible for the price to plunge to see the price hovering again below 157.00.</p><p><br /></p><p>Next, a lower drop would expect the support level at 154.00 to target again after being tested several times in the previous weeks.</p>