EUR/JPY PRICE ANALYSIS: CONSOLIDATIVE FOR LONGER
EUR/JPY adds to Thursday’s advance and surpasses 158.00.
Next on the upside comes the monthly peak at 158.65.
EUR/JPY extends Thursday’s gains and reclaims the area above the 158.00 hurdle at the end of the week.
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.
So far, the longer term positive outlook for the cross appears favoured while above the 200-day SMA, today at 149.43.
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