EUR/JPY Price Analysis: Extra gains look likely near term

• EUR/JPY quickly leaves behind Wednesday’s retracement.
• Above 140.00 comes the 141.05 level (June 2015).

EUR/JPY clocked new peaks around 140.00 on Thursday, an area last seen back in June 2015.

The continuation of the uptrend looks the most likely scenario for the time being. That said, if the cross clears 140.00, then the focus of attention will be on the June 2015 high at 141.05. Beyond this level, there are no hurdles of note until the 2014 high at 149.78 (December 2014).

In the meantime, while above the 200-day SMA at 130.48, the outlook for the cross is expected to remain constructive.

EUR/JPY daily chart