- EUR/JPY hits a tough barrier near 136.80.
- More rises are expected to test the May highs.
EUR/JPY partially reverses Monday’s strong advance and is under pressure after another failed attempt to break above the 136.80 region.
If the cross manages to push past weekly highs in the 136.70/80 zone, then it could try to challenge the May high at 138.31 (May 9) before the 2022 high at 140.00 (April 21).
Meanwhile, the outlook for the cross is expected to remain constructive if it remains above the 200 SMA at 131.24.
EUR/JPY day chart
Source: Fx Street
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