EUR/JPY Price Analysis: Next on the upside emerges the 158.00 region

EUR/JPY comes under pressure after three straight daily gains.
The resumption of the upside bias could retarget the 2023 top near 158.00.

EUR/JPY fades the auspicious start of the week and slips back to the 155.00 neighbourhood on Tuesday.

In the meantime, the cross keeps the recovery mode in place and the continuation of the uptrend carries the potential to challenge the so far 2023 peak in the boundaries of 158.00 the figure (June 29).

So far, the longer term positive outlook for the cross appears favoured while above the 200-day SMA, today at 146.02.

EUR/JPY daily chart

Jul 18, 2023

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Jul 18, 2023

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