- EUR/JPY bounces from recent highs and breaks through 144.0.
- The possibility of further rises above the four-month support line remains.
EUR/JPY manages to put behind two straight daily declines and breaks above the 144.00 barrier on Wednesday.
Should the bulls push further, the door could open to a possible test of the weekly high at 146.13 (23 Nov) on the near term horizon. As long as it is above the four-month support line near 142.00, the near-term outlook for the cross is expected to remain positive.
Longer-term, the cross should hold the bullish view above the 200-day SMA at 138.96 today.
EUR/JPY day chart
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
