- EUR/JPY accelerates and recovers the 136.00 level.
- A bullish extension should initially target the weekly high at 136.70.
EUR/JPY quickly outruns Friday’s pullback and manages to break through the key barrier at 136.00 on Monday.
The continuation of the current bounce should initially target the weekly high at 136.69 (May 17). Further gains are expected to put the May high at 138.31 (May 9) and then the 2022 high at 140.00 (April 21) on the radar.
Meanwhile, if it remains above the 200-day SMA at 131.20, the outlook for the cross is expected to remain constructive.
EUR/JPY day chart
Source: Fx Street
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