EUR/JPY Price Analysis: Rally Looks Unabated So Far

EUR/JPY advances to new yearly highs beyond 161.00.

There are no up-barriers of note until the 2008 top near 170.00.

 extends the march north of the fifth session in a row and clinches a new 2023 peak past the 161.00 hurdle on Wednesday.Further upside appears well on the cards for the cross in the short-term horizon. Against that, the surpass of the 2023 high of 161.05 (November 8) is expected to face the next significant resistance level not before the 2008 top of 169.96 (July 23)So far, the longer term positive outlook for the cross appears favoured while above the 200-day SMA, today at 151.92.
 EUR/JPY daily chart

EUR/JPY

OVERVIEW Today last price 160.98 Today Daily Change 36 Today Daily Change % 0.05 Today daily open 160.9 TRENDS Daily SMA20 158.94 Daily SMA50 158.19 Daily SMA100 157.57 Daily SMA200 151.86 LEVELS Previous Daily High 161.03 Previous Daily Low 160.43 Previous Weekly High 160.85 Previous Weekly Low 157.7 Previous Monthly High 160.85 Previous Monthly Low 154.39 Daily Fibonacci 38.2% 160.8 Daily Fibonacci 61.8% 160.66 Daily Pivot Point S1 160.54 Daily Pivot Point S2 160.19 Daily Pivot Point S3 159.94 Daily Pivot Point R1 161.14 Daily Pivot Point R2 161.38 Daily Pivot Point R3 161.74

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