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25 Oct 2022
EUR/JPY Price Analysis: Looks consolidative ahead of potential extra gains
- EUR/JPY keeps the erratic activity around the 147.00 area.
- Immediately to the upside comes the 2022 peak at 148.40.
EUR/JPY corrects lower after climbing to the 147.40 region earlier on the session on Tuesday.
Considering the current price action in the cross, the door still looks open to extra upside. That said, the immediate target now emerges at the 2022 high at 148.40 (October 21) prior to 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 137.00.
EUR/JPY daily chart
