EUR/JPY Price Analysis: Recovery now targets the 143.00 region

• EUR/JPY adds to the weekly rebound and surpasses 140.00.
• Next on the upside comes the weekly high near 143.00.

EUR/JPY adds to Wednesday’s gains and trespasses the key 140.00 barrier on Thursday.

The cross flirts with the critical 200-day SMA in the mid-140.00s. A sustainable move above the latter should shift the near-term outlook to positive and therefore open the door to extra gains.

Against that, the immediate barrier is then expected at the weekly peak at 142.93 (December 28). This resistance level is also underpinned by the proximity of the 100-day SMA (142.86).

EUR/JPY daily chart