- EUR/JPY advances towards fresh highs around 147.00.
- Below is the December 2014 high at 149.78.
EUR/JPY accelerates the bullish momentum and reaches new highs around the 147.00 barrier, an area last seen in December 2014.
Considering the current price action, earnings remain favorable. That said, the immediate target now comes in at the Dec 2014 high of 149.78 (Dec 8).
In the short term, the bullish momentum is expected to persist as long as it is above the lows around 141.00 in October.
In the longer term, as long as it is above the key 200 SMA at 136.60, the constructive outlook for the cross should remain unchanged.
EUR/JPY day chart
Source: Fx Street
With 6 years of experience, I bring to the table captivating and informative writing in the world news category. My expertise covers a range of industries, including tourism, technology, forex and stocks. From brief social media posts to in-depth articles, I am dedicated to creating compelling content for various platforms.
