The EUR/JPY cross trades weaker around 163.55, snapping the four-day winning streak on Friday during the early European session. The Japanese Yen (JPY) edges higher after recent Japan’s second-quarter Gross Domestic Product (GDP) came in stronger than estimated, growing by 0.8% QoQ in Q2. The encouraging GDP growth numbers lend support to the chance of a near-term interest rate hike by the Bank of Japan (BoJ).The cross resumes its uptrend on the 4-hour chart, with the price holding above key 100-period Exponential Moving Averages (EMA). The Relative Strength Index (RSI) stands above the midline near 68.50, indicating that bearish vibes are present. The potential upside barrier for EUR/JPY emerges at the 164.00 psychological mark. A sustained break above this level keeps an eye out for a continuation of the climb back to the 164.89, a low of July 25. Extended gains will see a rally to 166.56, a high of July 31. On the flip side, the 163.10-163.00 zone acts as an initial support level for the cross. The additional downside filter to watch is 161.95, a low of August 15. The next contention level is seen at 160.59, a low of August 14.
EUR/JPY 4-hour chart 
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