EUR/JPY Price Analysis: Rebound looks well and sound

• EUR/JPY climbs to multi-session peaks above 146.00.
• Further up comes the monthly high just above 147.00.

EUR/JPY extends the weekly rebound and advances to multiday tops past the 146.00 region on Wednesday.

So far, the corrective rebound looks well in place and the cross should face initial resistance at the so far November high at 147.11 (November 9). Above the latter, the door could open to a more meaningful move to the 2022 peak at 148.40 (October 21).

In the longer run, while above the key 200-day SMA at 138.62, the positive outlook is expected to remain unchanged.

EUR/JPY daily chart