EUR/JPY Price Analysis: Next target now emerges at 170.00

• EUR/JPY advances to new 2023 tops near 161.00.
• Immediately to the upside emerges the 2008 peak near 170.00.

EUR/JPY prints new yearly highs in levels just shy of 161.00 the figure at the beginning of the week.

Further upside appears well on the cards for the cross in the short-term horizon. Against that, the surpass of the 2023 high of 160.98 (November 6) should 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 151.72.

EUR/JPY daily chart