- EUR/JPY adds to Monday’s pullback and breaks 149.00.
- Occasional bullish attempts should hit a tough barrier near 151.00.
He USD/JPY corrects further south and pulls back to the below 149.00 zone on Tuesday.
Should the bulls regain the initiative, there is an immediate hurdle at the monthly high so far at 150.19 (Jun 5). A convincing break above this level could put the weekly high at 151.07 (May 29) back on the radar before the 2023 high at 151.61 (May 2).
For now, the uptrend is favored as long as the cross trades above the 200-day SMA, today at 144.05.
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.
