EUR/JPY Price Analysis: Tough resistance aligns around 148.00

• EUR/JPY adds to the pessimism seen in the second half of the week.
• The surpass of 148.00 could expose a move to the 2022 high.

EUR/JPY extends further the corrective decline after faltering near the 148.00 hurdle earlier in the session.

Despite the ongoing knee-jerk, further gains in the cross remain in store for the time being. That said, the continuation of the upside momentum should challenge 148.00 once again, while the breakout of this level could pave the way for a probable visit to the 2022 peak at 148.40 (October 21).

So far, further upside looks favoured while the cross trades above the 200-day SMA, today at 142.24.

EUR/JPY daily chart