- EUR/JPY hits multi-session highs near 158.50.
- The immediate bullish barrier is at the September high.
He EUR/JPY extends weekly recovery to levels above 158.00 on Wednesday.
Meanwhile, the cross remains stuck within the consolidation range and its breakout exposes a visit to the monthly high reached so far at 158.65 (September 13) before 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 148.90.
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.
