EUR/JPY Price Analysis: Decent resistance turns up around 158.00

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24 July 2023

EUR/JPY Price Analysis: Decent resistance turns up around 158.00

EUR/JPY comes under pressure following Friday’s new tops.
Further gains need to clear the 158.00 region.

EUR/JPY comes under some moderated downside pressure and retreats to the low-156.00s following Friday’s YTD tops just above 158.00 the figure.

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 146.27.

EUR/JPY daily chart

USD/CHF: Resistance at 0.8705 to cap on a closing basis with initial support seen at 0.8648/43 – Credit Suisse

USD/MXN will see a fresh decline in due course back to the 16.6930 recent low – Credit Suisse

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