EUR/JPY Price Analysis: Scope for another visit to the 2022 high

• EUR/JPY resumes the upside and retests the area beyond 147.00.
• The recent YTD high at 148.40 (October 21) comes next.

EUR/JPY fades Friday’s strong retracement and regains the 147.00 barrier and above at the beginning of the week.

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 136.92, the constructive outlook for the cross should remain unchanged.

EUR/JPY daily chart