- EUR/JPY Price Analysis: Near-term outlook remains positive
Market news
1 March 2023
EUR/JPY Price Analysis: Near-term outlook remains positive
- EUR/JPY resumes the weekly leg higher above the 14400 mark.
- Immediately to the upside comes the 2023 high near 145.50.
EUR/JPY regains composure and advances past the 144.00 yardstick following Tuesday’s daily retracement.
The continuation of the current upside momentum faces the next hurdle at the 2023 high at 145.47 (February 28). Once this level is cleared, the par could then confront the December 2022 top at 146.72 (December 15) ahead of the 2022 high at 148.40 (October 21 2022).
In the meantime, while above the 200-day SMA, today at 141.54, the outlook for the cross is expected to remain positive.
EUR/JPY daily chart
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