Interim hurdle now comes at 146.13

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  • November 25, 2022
  • EUR/JPY leaves behind three consecutive daily pullbacks on Friday.
  • Next on the upside appears the weekly high above 146.13.

EUR/JPY bounces off weekly lows and regains some composure above the 145.00 barrier at the end of the week.

Considering the ongoing rebound, the cross now faces an interim resistance at the weekly high at 146.13 (November 23). The break above the latter exposes a potential move to the November tops past the 147.00 level.

In the longer run, while above the key 200-day SMA at 138.76, the positive outlook is expected to remain unchanged.

EUR/JPY daily chart