- The EUR/JPY pair manages to reach above 139.00.
- The next bullish zone for the pair is the 200-day medai.
EUR/JPY regains much needed momentum and recovers the 139.00 barrier and beyond earlier in the week.
The recent sharp correction in the cross appears to have found some containment around the 138.00 neighborhood. If the bounce picks up a more sustained pace, the next target to watch will be the 200-day SMA at 140.68 today.
Above the latter, the sell bias is expected to ease and could shift the outlook to a more constructive one.
EUR/JPY day chart
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
