EURJPY Price Analysis: Next on the upside emerges 147.00

• EURJPY adds to Monday’s uptick and surpasses 145.00.
• The recovery faces the next hurdle at the 147.00 zone.

EURJPY extends the auspicious start of the week and reclaims the area above the 145.00 barrier on Tuesday.

If the corrective bounce gathers extra steam, then the cross should face initial resistance at the so far November high at 147.11 (November 9). The surpass of this level could open the door to a more meaningful move to the 2022 peak at 148.40 (October 21).

In the longer run, while above the key 200-day SMA at 138.21, the constructive outlook is expected to remain unchanged.

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