EUR/JPY Price Analysis: Further gains in the pipeline

• EUR/JPY picks up extra pace and reclaims the 136.00 mark.
• Extra recovery should initially target the weekly high at 136.70.

EUR/JPY quickly leaves behind Friday’s pullback and manages to trespass the key barrier at 136.00 the figure on Monday.

The continuation of the ongoing bounce should initially target the weekly high at 136.69 (May 17). Further gains from here are expected to put the May high at 138.31 (May 9) back on the radar ahead of the 2022 peak at 140.00 (April 21).

In the meantime, while above the 200-day SMA at 131.20, the outlook for the cross is expected to remain constructive.

EUR/JPY daily chart