EUR/JPY Price Analysis: No changes to the bullish stance so far

Market news

1 August 2023

EUR/JPY Price Analysis: No changes to the bullish stance so far

EUR/JPY advances further and revisits the 157.00 area on Tuesday.
Further advance now focuses on the 2023 high past 158.00.

EUR/JPY trades in a positive fashion for the third session in a row and retests the 15700 neighbourhood, or multi-day highs, on Tuesday.

The continuation of the upside momentum should initially target the 2023 high at 158.04 (July 21). The surpass of this levels exposes a move to the round level of 160.00 in the not-so-distant future.

So far, the longer term positive outlook for the cross appears favoured while above the 200-day SMA, today at 146.53.

EUR/JPY daily chart

Brazil Industrial Output (YoY) in line with forecasts (0.3%) in June

GBP/USD will need a “hawkish tightening” move to take another run at the 1.30 zone – Scotiabank

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