- EURJPY rises to weekly highs near 145.50 on Wednesday.
- Further gains could target November highs around 147.00.
EURJPY quickly fades Tuesday’s pullback and recaptures the 145.00 barrier and beyond, hitting fresh highs on Wednesday.
If the corrective bounce gathers strength, the cross should face initial resistance at the November high so far at 147.11 (9 Nov). Breaking above this level could open the door for a more significant move towards the 2022 high at 148.40 (21 Oct).
Longer-term, as long as it is above the key 200 SMA at 138.27, the constructive outlook is expected to hold.
EURJPY day 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.
