- EUR/JPY extends the bounce to the 139.00 zone.
- Further strength should target this year’s high around 140.00.
EUR/JPY rises and advances to new highs at the limits of 139.00 on Wednesday.
The cross left behind the May high at 138.30 and is now poised for the continuation of the bounce with the initial target at the 2022 high at 140.00 (21 Apr).
Meanwhile, if it remains above the two-month support line near 135.00, the short-term outlook for the cross should remain bullish.
EUR/JPY day chart
Source: Fx Street
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