EUR/JPY Price Analysis: Further losses appear on the cards below 154.30

Market news

4 October 2023

EUR/JPY Price Analysis: Further losses appear on the cards below 154.30

EUR/JPY regains upside traction following two straight sessions of losses.
There is a minor support around 154.30 (October 3).

EUR/JPY manages to grab some buying interest and leaves behind two consecutive daily drops on Wednesday.

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.

On the downside, the so far monthly low of 154.34 (October 3) emerges as the initial contention in case of bearish attempts.

So far, the longer term positive outlook for the cross appears favoured while above the 200-day SMA, today at 149.65.

EUR/JPY daily chart

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