EUR/JPY Price Analysis: Next on the upside comes 140.00

• EUR/JPY adds to Wednesday’s advance and reaches 138.00.
• Further gains could see the 2022 high around 140.00 retested.

EUR/JPY pushes further up and reaches the key 138.00 region on Thursday.

The continuation of the upside momentum looks likely in the very near term, with the immediate hurdle at the 2022 peak around 140.00 (April 21). In case the cross clears this level, it should then refocus on the June 2015 high at 141.05. Beyond this level, there are no hurdles of note until the 2014 top at 149.78 (December 2014).

In the meantime, while above the 200-day SMA at 130.66, the outlook for the cross is expected to remain constructive.

EUR/JPY daily chart