- EUR/JPY extends recovery to around 138.00 on Tuesday.
- Further up is the 55-day average around 139.50.
EUR/JPY continues to rise and is already above the 138.00 zone on Tuesday for the sixth consecutive session.
Considering the ongoing price action, it seems likely that the cross will continue to rise for the time being. That said, the next temporary target lines up at the 55-day simple moving average today at 139.57. If the cross breaks above the latter, it could open the door for a likely visit to July’s high at 142.32 (July 21).
As long as it is above the 200-day simple moving average at 133.82, the outlook for the cross is expected to remain constructive.
EUR/JPY day chart
Source: Fx Street
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