• EUR/JPY rose sharply in response to increasing JPY-selling.
• Immediately to the upside comes the 2022 high at 133.15.

EUR/JPY stages a strong comeback and briefly moved beyond the key barrier at the 133.00 yardstick on Tuesday.

The intense rally in the cross remains unchallenged so far and now targets the 2022 top at 133.15 (February 10) prior to the October 2021 top at 133.48 (October 2).

In the meantime, while above the 200-day SMA, the outlook for the cross is expected to remain constructive.

EUR/JPY daily chart