- EURJPY adds to Monday’s rise and breaks above 145.00.
- The recovery faces the next hurdle at the 147.00 area.
EURJPY extends auspicious start to the week and retakes the zone above the 145.00 barrier on Tuesday.
If the corrective bounce gains more 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 138.21, 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.
