EUR/JPY Price Analysis: Next on the upside comes 164.30

Noticias del mercado

27 noviembre 2023

EUR/JPY Price Analysis: Next on the upside comes 164.30

EUR/JPY gives away part of the recent three-day advance.
Further up comes the 2023 peaks around 164.30.

EUR/JPY surrenders part of the recent bullish move and retests the key support around 163.00.

In case bulls regain the upper hand, the cross could attempt another visit to the YTD tops around 164.30 (November 16) in the short-term horizon.

Against that, the surpass of the yearly high 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 153.28.

EUR/JPY daily chart

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