• EUR/JPY reverses some of the recent weakness.
• Immediately to the upside aligns the monthly high of 158.65.

EUR/JPY comes under some mild downside pressure and reverses two consecutive sessions of gains on Monday.

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 149.57.