- EURJPY moderates Friday’s slide amid erratic behavior.
- Immediately to the upside are monthly highs near 147.00.
The EURJPY resumes gains above the key signal of 145.00 at the beginning of the week.
If the corrective bounce deepens, the cross should face initial resistance at the November high, so far at 147.11 (Nov 9). Above the latter, the door could open for a more significant move towards the 2022 high at 148.40 (21 Oct).
Longer-term, as long as it is above the 200-day SMA at 138.47, the constructive outlook is expected to hold.
EUR/JPY daily chart
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
