- EUR/JPY advances towards fresh highs above 156.00.
- The next bullish zone is 156.80.
He USD/JPY adds to Wednesday’s positive performance and breaks above the 156.00 level for the first time since late September 2008.
Meanwhile, further gains should break the yearly high at 156.52 (June 22) and then refocus on the weekly high recorded at the end of September 2008 at 156.83, which precedes the key round level at 157.00.
Although further gains remain, the current overbought conditions for the cross indicate that further pullbacks should not be ruled out at some point on the short-term horizon.
For now, rallies are favored as long as the cross trades above the 200-day SMA, today at 144.69.
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.
