EUR/JPY Price Analysis: No changes to the consolidative theme

• EUR/JPY adds to the weekly decline near the 157.00 support.
• Next to the upside aligns the monthly high at 158.65.

EUR/JPY maintains the bearish mood so far this week and revisits the vicinity of the 157.00 neighbourhood on Wednesday.

In the meantime, the cross remains stuck within the consolidative range and the 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 key round level at 160.00.

So far, the longer term positive outlook for the cross appears favoured while above the 200-day SMA, today at 149.26.

EUR/JPY daily chart