EUR/JPY Price Analysis: Extra gains remain on the cards

Market news

7 November 2023

EUR/JPY Price Analysis: Extra gains remain on the cards

EUR/JPY climbs to new 2023 peaks just past 161.00.
Further bullish attempts should target the 2008 high near 170.00.

EUR/JPY advances to fresh YTD highs just above 161.00 the figure on Tuesday.

Further upside appears well on the cards for the cross in the short-term horizon. Against that, the surpass of the 2023 high of 161.02 (November 6) is expected to face the next significant resistance level not before the 2008 top of 169.96 (July 23)

So far, the longer term positive outlook for the cross appears favoured while above the 200-day SMA, today at 151.82.

EUR/JPY daily chart

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