EUR/JPY Price Analysis: Next on the upside comes 170.00
- EUR/JPY jumps to new 2023 highs past 160.00.
- The next hurdle of note comes at the 2008 high near 170.00.
EUR/JPY jumps to new YTD peaks well north of the 160.00 hurdle on Tuesday, an area last traded in late August 2008.
Further upside appears well on the cards for the cross in the short-term horizon. Against that, the surpass of the 2023 high of 160.84 (October 31) should face the next significant resistance level not before the 2008 top of 169.96 (July 23)
So far, the longer term positive outlook for the cross appears favoured while above the 200-day SMA, today at 151.35.
EUR/JPY daily chart
Reprinted from FXStreet_id，the copyright all reserved by the original author.
Disclaimer: The content above represents only the views of the author or guest. It does not represent any views or positions of FOLLOWME and does not mean that FOLLOWME agrees with its statement or description, nor does it constitute any investment advice. For all actions taken by visitors based on information provided by the FOLLOWME community, the community does not assume any form of liability unless otherwise expressly promised in writing.
FOLLOWME Trading Community Website: https://www.followme.com
Hot
No comment on record. Start new comment.