- EUR/JPY adds to Wednesday’s small losses and breaks above 142.00.
- It is likely to continue rising as long as it is above the 138.00 area.
The EUR/JPY flirts with fresh 3-day lows in the 142.00 area on Thursday.
Despite the corrective move, the cross maintains bullish momentum and a continuation of this move should retest the 2022 high at 144.25 (8 Jun) in the short term.
Once cleared, the next target to watch should be the 2015 high at 145.32 (Jan 2) before the 2014 high at 149.78 (Dec 8).
Meanwhile, as long as it is above the 3-month support line around 138.00, the short-term outlook for the cross should remain bullish. This area seems reinforced by the proximity of the 55-day SMA.
EUR/JPY daily chart
Technical levels
Source: Fx Street
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