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12 Oct 2022

EUR/JPY Price Analysis: Solid support emerged around 141.00

  • EUR/JPY adds to Tuesday’s advance and surpasses 142.00.
  • The 141.00 region has so far emerged as a decent contention area.

EUR/JPY picks up extra pace and extends Tuesday’s bounce further north of the 142.00 level midweek.

So far, the recovery appears underpinned by the 141.00 region, which stands as quite a decent support for the time being. Further upside could then see the 144.00 neighbourhood revisited in the short-term horizon.

In the meantime, while above the key 200-day SMA at 136.31, the constructive outlook for the cross should remain unchanged.

EUR/JPY daily chart

 

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