- EUR/JPY starts a corrective decline just above 139.00.
- A further advance seems likely once 140.00 is broken.
EUR/JPY is under bearish pressure after three consecutive sessions of gains on Wednesday.
The continuation of the uptrend has the focus now on the key 140.00 level. Beyond this zone, the cross could attempt another test of the weekly high at 142.32 (July 21), which is seen as the last defense of the 2022 high at 144.27 (June 28).
As long as it is above the 200 SMA at 134.37, the outlook for the pair should remain constructive.
EUR/JPY day chart
Source: Fx Street
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