- EUR/JPY extends Friday’s advance and retakes the 135.00 level.
- For more gains, the euro needs to clear the 138.30 region in the short term.
EUR/JPY extends the rally further and manages to visit the area just above 135.00 on Monday.
If the recovery accelerates, the cross could see a blunted decline after closing above the May high of 138.31 (May 9). Breaking out of the latter should put a possible visit to the 2022 high at 140.00 (April 21) back on the radar.
Meanwhile, if it continues above the 200-day SMA at 131.05, the outlook for the cross is expected to remain constructive.
EUR/JPY day chart
Source: Fx Street
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