EUR/JPY Price Analysis: Further consolidation in the pipeline

Market news

25 May 2023

EUR/JPY Price Analysis: Further consolidation in the pipeline

EUR/JPY pierces the key barrier at 150.00 on Thursday.
Further north emerges the 2023 peak near 151.60.

EUR/JPY fades part of Wednesday’s marked uptick and keeps the trade close to the key hurdle at 150.00 on Thursday.

While the likeliness of further consolidation appears a plausible near-term scenario, a convincing breakout of the key round level at 150.00 could encourage the cross to dispute the 2023 top at 151.61 (May 2) in the not-so-distant future.

So far, further upside looks favoured while the cross trades above the 200-day SMA, today at 143.55.

EUR/JPY daily chart

Currencies. Daily history for Thursday, May 25, 2023

Commodities. Daily history for Wednesday, May 24, 2023

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