EUR/JPY Price Analysis: Further upside could revisit the 2022 high

EUR/JPY corrects lower after briefly surpassing the 144.00 mark.
Extra gains are expected to challenge the YTD top past 145.00.

EUR/JPY comes under pressure following five consecutive daily advances on Wednesday, including a test of the key resistance zone around 144.00.

The continuation of the rebound from last week’s lows remains well in place for the time being. That said, if the cross extends the breakout of the weekly top at 144.04 (September 20), it could then dispute the 2022 high at 145.63 (September 12).

In the meantime, while above the key 200-day SMA at 136.04, the constructive outlook for the cross should remain unchanged.

EUR/JPY daily chart

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