- EUR/JPY extends the rally on Thursday and retests 135.80.
- More rallies should target weekly high at 136.70.
EUR/JPY adds even more traction to the upside and revisits the 135.80 region at the end of the week.
The continuation of the current bounce should initially target the weekly high at 136.69 (May 17). More gains are expected to put the May high at 138.31 (May 9) back on the radar ahead of the 2022 high at 140.00 (Apr 21).
Meanwhile, if it remains above the 200-day SMA at 131.16, the outlook for the cross is expected to remain constructive.
EUR/JPY day chart
Source: Fx Street
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