EUR/JPY Price Analysis: No changes to the consolidative phase

Market news

2 October 2023

EUR/JPY Price Analysis: No changes to the consolidative phase

EUR/JPY reverses some of the recent weakness.
Immediately to the upside aligns the monthly high of 158.65.

EUR/JPY comes under some mild downside pressure and reverses two consecutive sessions of gains on Monday.

In the meantime, the cross remains stuck within the consolidative range and the breakout of it exposes a visit to the so far monthly high of 158.65 (September 13) prior to the 2023 top at 159.76 (August 30), which precedes the key round level at 160.00.

So far, the longer term positive outlook for the cross appears favoured while above the 200-day SMA, today at 149.57.

EUR/JPY daily chart

USD Index Price Analysis: Another visit to the 2023 top seems likely

United States S&P Global Manufacturing PMI came in at 49.8, above expectations (48.9) in September

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.