• EUR/JPY adds to Friday’s advance and flirts with multi-session highs.
• Next on the upside aligns the 2022 peak at 148.40.

EUR/JPY extends the rebound and climbs to the 147.70 region at the beginning of the week.

Considering the current price action, there is still chances for the cross to advance further in the short-term horizon. That said, the immediate up barrier now emerges at the 2022 high at 148.40 (October 21) ahead of 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 137.36, the constructive outlook is expected to remain unchanged.

EUR/JPY daily chart