- EUR/JPY hits new cycle highs just above 144.00.
- More rallies now target 2015 high beyond 145.00.
The EUR/JPY rally does not look weakened and is currently testing the new highs area in the neighborhood of 144.00.
The cross was briefly in the area just above 144.00 and opened the door for a continuation of the rally in the very short term. That said, there are no relevant hurdles until the 2015 high of 145.32 (Jan 2) before the 2014 high of 149.78 (Dec 8).
Meanwhile, if it remains above the two-month support line near 135.90, the short-term outlook for the cross should remain bullish.
EUR/JPY day chart
Source: Fx Street
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