• EUR/JPY extends the recovery beyond 158.00.
• Immediately to the upside turns up the 160.00 mark.

EUR/JPY advances for the third session in a row and surpasses the 158.00 mark on Monday.

If the move higher gathers extra impulse, the cross should challenge recent 2023 peaks near 159.50 (August 22) ahead of the key round level at 160.00. The surpass of the latter should not see any resistance level of note until the 2008 high at 169.96 (July 23)

So far, the longer term positive outlook for the cross appears favoured while above the 200-day SMA, today at 147.70.

EUR/JPY daily chart