EUR/JPY Price Analysis: Next on the upside comes 170.00

• EUR/JPY jumps to new 2023 highs past 160.00.
• The next hurdle of note comes at the 2008 high near 170.00.

EUR/JPY jumps to new YTD peaks well north of the 160.00 hurdle on Tuesday, an area last traded in late August 2008.

Further upside appears well on the cards for the cross in the short-term horizon. Against that, the surpass of the 2023 high of 160.84 (October 31) 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 151.35.

EUR/JPY daily chart