EUR/JPY Price Analysis: The 162.00 mark looms closer

Market news

9 November 2023

EUR/JPY Price Analysis: The 162.00 mark looms closer

EUR/JPY prints fresh tops near 161.70 on Thursday.
Extra gains could advance to the 2008 top near 170.00.

EUR/JPY struggles to advance further despite printing new YTD peaks in the 161.70/75 band on Thursday.

Further upside appears well on the cards for the cross in the short-term horizon. Against that, the surpass of the 2023 high of 161.74 (November 9) 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 152.03.

EUR/JPY daily chart

USD Index Price Analysis: Immediate resistance emerges around 106.00

ECB: Monetary easing still some way off – Wells Fargo

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.