EUR/JPY Price Analysis: Immediately to the upside comes 160.00

• EUR/JPY adds to Thursday’s pullback and breaks below 158.00.
• The 160.00 region aligns as the next target on the upside.

EUR/JPY slips back below the 158.00 yardstick to print new weekly lows on Friday.

So far, the emergence of some consolidation seems probable in the very near term ahead of the continuation of the upside. Against that, the immediate target remains at the round level of 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 favoured while above the 200-day SMA, today at 147.31.

EUR/JPY daily chart