EUR/JPY Price Analysis: Extra gains in store near term

Market news

2 June 2023

EUR/JPY Price Analysis: Extra gains in store near term

EUR/JPY adds to recent gains and approaches 150.00.
The continuation of the upside could revisit the 151.00 area.

EUR/JPY extends the recovery following Thursday’s advance and trades closer to the key 150.00 yardstick on Friday.

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 143.95.

EUR/JPY daily chart

Currencies. Daily history for Friday, June 2, 2023

Commodities. Daily history for Thursday, June 1, 2023

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