- EUR/JPY adds to Wednesday’s uptick and regains 141.00 and above.
- A sustainable move above the 200-day SMA should expose extra gains.
EUR/JPY advances for the second session in a row on Thursday, although the initial bull run to the 141.30 region fizzled out rapidly.
While the cross is expected to maintain the side-lined theme in the short term, the 143.00 area remains a solid barrier for bulls. This key resistance zone also appears reinforced by the 100-day SMA, today at 142.90
If the cross breaks above the 200-day SMA at 141.02 on a sustainable fashion, the outlook is expected to shift to a more constructive one.