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- EUR/JPY Price Analysis: Next on the upside aligns at 158.65
EUR/JPY Price Analysis: Next on the upside aligns at 158.65
- EUR/JPY climbs to multi-session tops near 158.50.
- The immediate up-barrier comes at the September high.
EUR/JPY extends the weekly recovery to the area further north of the 158.00 barrier on Wednesday.
In the meantime, the cross remains stuck within the consolidative range and the breakout of it exposes a visit to the so far monthly high of 158.65 (September 13) prior to the 2023 top at 159.76 (August 30), which precedes the key round level at 160.00.
The surpass of the latter should not see any resistance level of note until the 2008 high at 169.96 (July 23).
So far, the longer term positive outlook for the cross appears favoured while above the 200-day SMA, today at 148.90.
EUR/JPY daily chart
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