- EUR/JPY bounces back after two consecutive daily pullbacks.
- The next level to the upside comes the 2022 peak beyond 144.00.
EUR/JPY recovers 142.00 and beyond on Friday while leaving behind two consecutive losing sessions.
The bullish bias in the cross remains strong and the continuation of the rally could lead to a visit to the 2022 high at 144.25 (June 8) sooner rather than later.
Breaking above the latter could pave the way for a move to the 2015 high of 145.32 (Jan 2) before the 2014 high of 149.78 (Dec 8).
In the meantime, if it remains above the 3-month support line around 138.15, the short-term outlook for the cross should remain bullish. This area appears reinforced by the proximity to the 55-day simple moving average.
EUR/JPY day chart
Source: Fx Street
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