• EUR/JPY adds to the weekly recovery beyond the 147.00 mark.
• Next on the upside for the cross comes the 2022 high at 148.40.

EUR/JPY extends the corrective uptrend for the third session in a row and looks to consolidative above the 147.00 mark on Wednesday.

Considering the current price action in the cross, the door still looks open to extra upside. That said, the immediate target now emerges at the 2022 high at 148.40 (October 21) prior to the December 2014 top at 149.78 (December 8).

In the short term the upside momentum is expected to persist while above the October lows near 141.00.

In the longer run, while above the key 200-day SMA at 137.10, the broader constructive outlook should remain unchanged.

EUR/JPY daily chart