EUR/JPY gives away part of the recent three-day advance

EUR/JPY surrenders part of the recent bullish move and retests the key support around 163.00. In case the bulls regain the upper hand, the cross

EUR/JPY surrenders part of the recent bullish move and retests the key support around 163.00. In case the bulls regain the upper hand, the cross could attempt another visit to the YTD tops around 164.30 (November 16) in the short-term horizon. Against that, the surpass of the yearly high 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 favored while above the 200-day SMA, today at 153.28.

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