• EUR/JPY reverses two daily pullbacks in a row on Monday.
• Further upside should meet the next target around 158.60.

EUR/JPY regains some composure and manages to leave behind a two-day negative streak at the beginning of the week.

The acceleration of the rebound is expected to put the September high of 158.65 (September 13) to the test ahead of the 2023 top at 159.76 (August 30), which precedes the key round level at 160.00.

So far, the longer term positive outlook for the cross appears favoured while above the 200-day SMA, today at 150.33.

EUR/JPY daily chart