- EURJPY erases part of Wednesday’s rise and falls from 145.00.
- The three-month support line near 141.00 contains pullbacks.
On Thursday, the EURJPY comes under pressure shortly after breaching the key 145.00 barrier.
If the corrective bounce gathers strength, the cross should face initial resistance at the November high of 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).
Meanwhile, the short-term bullish bias could continue as long as the cross sails above the three-month support line near 141.20. This containment zone is also underpinned by the October lows in the 141.00 zone.
Longer term, as long as it is above the 200 SMA at 138.33, 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.
