• EUR/JPY reverses two daily drops in a row and approaches 143.00.
• A deeper pullback could still test the key 200-day SMA at 139.15.

EUR/JPY rebounds from Friday’s 3-month lows and manages to flirt with the round level at 143.00 at the beginning of the week.

Despite the ongoing rebound, the cross remains under pressure and could still shed further ground and revisit the critical 200-day SMA in the short-term horizon.

The outlook for EUR/JPY is expected to remain positive while above the latter.

EUR/JPY daily chart