EUR/JPY Price Analysis: Recovery now targets the 158.60 area

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11 October 2023

EUR/JPY Price Analysis: Recovery now targets the 158.60 area

EUR/JPY adds to Tuesday’s advance and retakes the 158.00 barrier.
Extra gains should meet the next target around 158.60.

EUR/JPY picks up further pace and surpasses the 158.00 mark, or three-day highs, on Wednesday.

The continuation of the rebound is expected to put the September high of 158.65 (September 13) to the test ahead of 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 150.08.

EUR/JPY daily chart

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