- EUR/JPY falls to three-day lows after monthly highs on Wednesday.
- In the short term, further consolidation is expected.
He USD/JPY It retreats from Wednesday’s monthly highs around 158.60 and revisits the vicinity of the 157.00 area, or three-day lows, on Thursday.
Meanwhile, the cross continues to face sideways trading ahead of a possible resumption of the uptrend. That said, a small hurdle emerges at the monthly high reached so far at 158.65 (September 13), ahead of the 2023 high at 159.76 (August 30) and ahead of the key round level at 160.00. Breaking through the latter should not lead to any resistance levels worth mentioning until the 2008 high at 169.96 (July 23).
For now, the positive long-term outlook for the cross seems favored as long as it remains above the 200-day SMA, today at 148.70.
EUR/JPY Daily Chart
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
