EUR/JPY Price Analysis: Further gains appear in the pipeline

Market news

21 July 2023

EUR/JPY Price Analysis: Further gains appear in the pipeline

EUR/JPY accelerates gains to new 2023 peaks past 158.00.
Extra upside looks likely in the near term.

EUR/JPY advances further and reaches a new 2023 high just above 158.00 the figure at the end of the week.

In the meantime, the cross keeps the recovery mode well in place and the continuation of the uptrend is expected to challenge the key round level at 160.00 sooner rather than later.

So far, the longer term positive outlook for the cross appears favoured while above the 200-day SMA, today at 146.22.

EUR/JPY daily chart

EUR/USD could dip back towards the 1.1050 area on the Fed event risk – ING

Gold Price Forecast: XAU/USD setbacks are certainly possible in the coming weeks – Commerzbank

Market Focus

Material posted here is solely for information purposes and reliance on this may lead to losses. Past performances are not a reliable indicator of future results. Please read our full disclaimer

Open Demo Account & Personal Page

Personal area

support@teletradepartners.com

Risk Warning: Trading in the financial markets (including trading on margin) provides a wide range of opportunities and enables investors ready to take risks to make high profits, but it carries a potentially high level of risk of loss. Therefore, prior to trading you should take into careful consideration whether such operations are suitable for you in terms of your level of knowledge and financial situation.