- EUR/JPY is under pressure after hitting fresh yearly highs.
- Continuation of the uptrend should trigger a visit to the December 2022 high.
He USD/JPY It pulls back from the yearly highs reached on Thursday in the 145.50 zone.
The continuation of the current bullish momentum faces the immediate hurdle of the 2023 high at 145.56 (March 2). Once this level is broken, the pair could challenge the December 2022 high at 146.72 (Dec 15) before the 2022 high at 148.40 (October 21, 2022).
Meanwhile, as long as it holds above the 200-day SMA, today at 141.59, the outlook for the pair is expected to remain positive.
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.
