EUR/JPY Price Analysis: Next up-barrier emerges at the 2022 peak

• EUR/JPY remains well bid and trades close to the 147.00 region on Friday.
• The next target of note comes at the 2022 peak above 148.00.

The bid bias in EUR/JPY remains well and sound for yet another session at the end of the week.

Considering the ongoing price action, further gains in the cross remain in the pipeline for the time being. That said, the continuation of the upside momentum could extend further and challenge the 2022 peak at 148.40 (October 21) sooner rather than later.

So far, further upside looks favoured while the cross trades above the 200-day SMA, today at 142.02.

EUR/JPY daily chart