- The EUR/JPY pair is trading within a tight range around 157.50.
- At the moment, the cross is facing increased sideways trading.
The pair EUR/JPY sails within a tight range above 157.00 at the beginning of the week.
Meanwhile, the cross continues to face a consolidation range. Against this, 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), which precedes 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 148.77.
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.
