• EUR/JPY extends the weekly recovery past the 141.00 barrier.
• The continuation of the rebound should target the 143.00 region.

EUR/JPY reverses Thursday’s pullback and regains the 141.00 mark and beyond at the end of the week.

In light of the ongoing price action, further upside could not be ruled out in the ear term. That said, the immediate target emerges at the weekly high at 142.93 (December 28), which appears underpinned by the vicinity of the 100-day SMA.

The outlook for EUR/JPY is expected to shift to constructive while above the 200-day SMA, today at 140.52.

EUR/JPY daily chart