EUR/JPY Price Analysis: Above 138.30 comes 140.00

• EUR/JPY briefly revisits the 138.00 area on Tuesday.
• The 2-month support line near 134.85 holds the downside.

EUR/JPY briefly flirted with the 138.00 neighbourhood just to lose some traction soon afterwards on Tuesday.

The continuation of the bullish bias faces the next hurdle at the May high at 138.31 (May 9). The surpass of this level should open the door to a move to the 2022 peaks around 140.00 (April21).

In the meantime, while above the 2-month support line around 134.85, the short-term outlook for the cross should remain positive.

EUR/JPY daily chart