EUR/JPY Price Analysis: No changes to the consolidation theme so far
|
- EUR/JPY comes under selling pressure around the 158.00 zone.
- The continuation of the range bound mood seems likely.
EUR/JPY reverses two consecutive daily gains and faces some downside pressure near 158.00 on Wednesday.
Considering the ongoing performance, further consolidation appears in store for the cross for the time being. In the meantime, the breakout of this range could put the September high of 158.65 (September 13) to the test ahead of the 2023 top at 159.76 (August 30).
So far, the longer term positive outlook for the cross appears favoured while above the 200-day SMA, today at 150.50.
EUR/JPY daily chart
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.