• EUR/JPY rises on expectations that German spending package will be passed

• Cross pulls back from 162.32 day's high though holds above 161.35 cloud top

• Turning slow stochastics hint at deeper drop though seasonals are bullish

• Expanding weekly cloud offers resistance above 162

• Forward points, steady since early Feb, offer little directional bias

• Triangle forms between mid-June 2023 155 base and Apr 2024 desc. trendline

• May face near-term weakness if stays below the desc. trendline near 162.50

• Longer-term, potential for bullish EUR/JPY break after consolidation period
EURJPY

(Robert Fullem is a Reuters market analyst. The views expressed are his own.)