EUR/JPY PRICE ANALYSIS: NEXT ON THE UPSIDE EMERGES 145.00

• EUR/JPY clinches new 2022 peak near 144.30 on Tuesday.
• Further up appears the 2015 top near 145.30.

EUR/JPY prints gains for the third session in a row and records new cycle highs near 144.30 on Tuesday.

The bullish bias in the cross remains well and sound and the continuation of the recovery now targets the round level at 145.00 prior to the 2015 high at 145.32 (January 2). Further up is the 2014 top at 149.78 (December 8).

In the meantime, while above the 3-month support line around 138.40, the short-term outlook for the cross should remain bullish. This area appears reinforced by the proximity of the 55-day SMA.