- EUR/JPY recovers the rise and exceeds 143.50.
- The break of the 2022 highs should allow more upside.
EUR/JPY leaves behind the recent pullback and advances after returning above 143.00, approaching 144.00.
The bullish bias on the cross remains firm for now. That said, breaking through this year’s high of 144.27 (June 28) is expected to pave the way to initially the 145.00 level before the 2015 high of 145.32 (Jan 2). Further up is the 2014 high at 149.78 (December 8).
Meanwhile, if it remains above the 3-month support line around 138.50, 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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