Ella 
EUR/JPY rises to highest level since September 2008.
Entering Thursday’s European session, EUR/JPY hit a multi-year high of 158.30 after breaking through key upward resistance at the beginning of the session.
In response, the pair is expected to touch the round figure of 159.00 before testing the psychological 160.00 mark.
However, the RSI could turn overbought around those levels, which could challenge EUR/JPY bulls.
Also, the February 2007 peak around 159.65 acts as an additional upside hurdle.
Meanwhile, a pullback would require a close below the former resistance line at 157.80 from late June.
Afterwards, upside support from late March around 156.60 and the 21-day moving average at 156.30 could challenge EUR/JPY bears.
Overall, the pair remains bullish unless it breaks the horizontal support area from 3 months ago, around 151.70-40.
Overall, a move above 157.70 would open the door for the pair to move towards 160, but further gains appear to be in doubt.
