EUR/JPY Price Analysis: Next on the upside comes the 2023 high

Market news

26 May 2023

EUR/JPY Price Analysis: Next on the upside comes the 2023 high

EUR/JPY extends the upside past the 150.00 hurdle.
Extra gains could see the 2023 peak near 151.60 revisited.

EUR/JPY climbs for the third session in a row and briefly surpasses the key 150.00 barrier on Friday.

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 143.62.

EUR/JPY daily chart

Currencies. Daily history for Friday, May 26, 2023

Commodities. Daily history for Thursday, May 25, 2023

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