- EUR/JPY adds to Tuesday’s losses after hitting year-highs.
- New gains keep the target at the round level of 160.00.
He EUR/JPY is under new bearish pressure after reaching new 2023 highs near the 160.00 barrier on Tuesday.
Taking into account the current price development, it seems that further increases for the crossover are foreseen on the short-term horizon. Conversely, the immediate hurdle is the 2023 high at 159.91 (Oct 24), closely followed by the round level at 160.00.
For now, the long-term positive outlook for the cross seems favored as long as it remains above the 200-day SMA, today at 150.99.
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.
