• EUR/JPY accelerates gains to new 2023 peaks past 158.00.
• Extra upside looks likely in the near term.

EUR/JPY advances further and reaches a new 2023 high just above 158.00 the figure at the end of the week.

In the meantime, the cross keeps the recovery mode well in place and the continuation of the uptrend is expected to challenge the key round level at 160.00 sooner rather than later.

So far, the longer term positive outlook for the cross appears favoured while above the 200-day SMA, today at 146.22.

EUR/JPY daily chart