The Next Big Thing: 2023’s High Will Bring Opportunities
The EUR/JPY currency pair has achieved a two-week peak following a strong rebound north of the 144.00 hurdle. If it continues to gain momentum, it may test the year-to-date high around 145.60. The cross had previously broken through the key 200-day simple moving average (SMA) at 141.80, suggesting it could further accelerate gains to the 2023 top at 145.56. Should it surpass this level, the pair may potentially visit the December 2022 high of 146.70. Gains remain possible as long as the cross remains above the 200-day SMA.
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