EUR/JPY Price Analysis: Immediately to the upside comes the 143.00 region

• EUR/JPY adds to Friday’s uptick further north of 141.00.
• Extra gains are expected to target the 143.00 zone.

EUR/JPY extends the recovery for the second session in a row and looks to consolidate the breakout of the 141.00 barrier on Monday.

In light of the ongoing price action, further upside should not be ruled out in the short term. That said, the immediate up barrier appears at the weekly top at 142.93 (December 28), which remains propped up by the 100-day SMA.

The outlook for EUR/JPY is expected to shift to constructive while above the 200-day SMA, today at 140.55.

EUR/JPY daily chart