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- EUR/JPY Price Analysis: Upside target remains at the 2022 high
EUR/JPY Price Analysis: Upside target remains at the 2022 high
- EUR/JPY regains poise and reclaims part of the ground lost on Thursday.
- Immediately to the upside comes the YTD high at 148.40.
EUR/JPY resumes the upside and surpasses the 147.00 barrier at the end of the week.
Considering the current price action, there is still chances for the cross to advance further in the short-term horizon. That said, the immediate up barrier now emerges at the 2022 high at 148.40 (October 21) ahead of the December 2014 top at 149.78 (December 8).
In the short term the upside momentum is expected to persist while above the October lows near 141.00.
In the longer run, while above the key 200-day SMA at 137.27, the constructive outlook is expected to remain unchanged.
EUR/JPY daily chart
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