• EUR/JPY advances further north of the 142.00 mark midweek
• Bulls now target the weekly high around the 143.00 zone (December 28).

EUR/JPY trades with gains for the fourth session in a row and climbs to multi-day peaks near 142.50 on Wednesday.

Considering the ongoing price action, further upside remains well favoured in the near term. Against that, the immediate up barrier appears at the weekly high at 142.93 (December 28), which appears reinforced by the vicinity of the 100-day SMA, today at 143.05.

The outlook for EUR/JPY should remain positive while above the 200-day SMA at 140.62.

EUR/JPY daily chart