EUR/JPY adds to Thursday’s gains and approaches 158.00.
Next on the upside for bulls emerges the 160.00 yardstick.
EUR/JPY picks up extra pace and flirts with the key hurdle at 158.00 the figure at the end of the week.
If the move higher gathers extra impulse, the cross should challenge recent 2023 peaks near 159.50 (August 22) ahead of 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 147.64
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