EUR/JPY Price Analysis: Bulls retarget 151.00 and above

Market news

1 June 2023

EUR/JPY Price Analysis: Bulls retarget 151.00 and above

EUR/JPY regains buying interest and surpasses 149.00.
Immediately to the upside emerges the 151.00 zone.

EUR/JPY manages to pick up traction and retakes the 149.00 mark and beyond after three consecutive daily pullbacks on Thursday.

Further recovery appears a plausible near-term scenario, and a convincing breakout of the round level at 151.00 could encourage the cross to confront 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 143.89.

EUR/JPY daily chart

Currencies. Daily history for Thursday, June 1, 2023

Commodities. Daily history for Wednesday, May 31, 2023

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