EUR/JPY Price Analysis: Further gains likely above 149.26

Market news

18 May 2023

EUR/JPY Price Analysis: Further gains likely above 149.26

EUR/JPY’s weekly recovery meets initial hurdle near 149.30.
Extra upside seems on the cards once 149.30 is cleared.

EUR/JPY struggles to advance further north of the 149.25/30 band on Thursday.

Once the cross surpasses the weekly high at 149.26 (May 8, 18) with some conviction, it could then embark on a probable move to the key round level at 150.00 prior to the 2023 top at 151.61 (May 2).

So far, further upside looks favoured while the cross trades above the 200-day SMA, today at 143.23.

EUR/JPY daily chart

Currencies. Daily history for Thursday, May 18, 2023

Commodities. Daily history for Wednesday, May 17, 2023

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