- EUR/JPY rebounds a little and flirts with 159.00.
- Bullish attempts should hit a tough barrier near 160.00.
He EUR/JPY reverses Friday’s pullback and holds on to daily gains just above 158.00.
For the moment, the crossing seems to continue consolidating. On the contrary, the breakout of this theme could encourage the index to challenge the 2023 high at 159.91 (Oct 24) followed closely by the round level at 160.00.
For now, the positive long-term outlook for the cross seems favored as long as it remains above the 200-day SMA, today at 151.26.
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.
