• EUR/JPY advances for the fourth session in a row on Friday.
• Immediately on the upside comes the monthly high near 137.00.

The EUR/JPY extends its recovery for another session, pending the publication of key data in the United States.

Considering the ongoing price action, it seems likely that the cross will continue to rise for the time being. That said, the break of the monthly high at 136.92 (Aug 4) should open the door for a possible visit to the 100 and 55 SMAs at 137.88 and 139.50, respectively.

As long as the cross remains above the 200 SMA at 133.75, the outlook is expected to remain constructive.