• EUR/JPY comes under pressure following Friday’s new tops.
• Further gains need to clear the 158.00 region.

EUR/JPY comes under some moderated downside pressure and retreats to the low-156.00s following Friday’s YTD tops just above 158.00 the figure.

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 146.27.

EUR/JPY daily chart