EUR/JPY resumes the uptrend and surpasses 158.00

EUR/JPY reverses Thursday’s marked pullback and resumes the upside momentum past the 158.00 hurdle at the end of the week. In the meantime, the cross remains stuck within the consolidative range and its breakout of it exposes a visit to the so-far monthly high of 158.65 (September 13) prior to the 2023 top at 159.76 (August 30), which precedes the critical round level at 160.00. The surpass of the latter should not see any resistance level of note until the 2008 high at 169.96 (July 23). So far, the longer-term positive outlook for the cross appears favored while above the 200-day SMA, today at 149.09.