- EUR/JPY remains on the defensive so far this week.
- Bullish attempts target 2022 highs around 140.00.
EUR/JPY extends Monday’s decline and retests the 137.00 region on Tuesday.
The cross appears to be back to previous consolidation for the time being. The breakout of this phase is expected to shift attention to a possible visit to the 139.00 level before the 2022 high around 140.00 (April 21). Above is the June 2015 high at 141.05.
Meanwhile, if it remains above the 200-day SMA at 130.94, the outlook for the cross is expected to remain constructive.
EUR/JPY day chart
Source: Fx Street
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