EUR/JPY Price Analysis: Downside pressure alleviated above 140.30

• EUR/JPY adds to the weekly rebound beyond the 139.00 mark.
• Further gains look likely above the resistance line near 140.30.

EUR/JPY adds to Wednesday’s uptick and regains the 139.00 hurdle and beyond on Thursday.

Further upside should surpass the 4-month resistance line around 140.30 to allow for the continuation of the recovery to, initially, the weekly high at 142.37 (July 5). Beyond the latter, the cross could attempt a visit to the 2022 top at 144.27 (June 28).

In the longer run, the constructive stance in the cross remains well propped up by the 200-day SMA at 133.26.

EUR/JPY daily chart