EUR/JPY Price Analysis: Next on the upside appears 140.00

• EUR/JPY sees some downside pressure after hitting new highs.
• The continuation of the uptrend could see 140.00 retested.

EUR/JPY clinched new tops around 139.70 earlier in the session, although it lost some momentum since then.

Further upside thus appears on the cards with the immediate target at the fresh peak at 139.69 (April 20). The surpass of this level is expected to motivate the cross to put the round level at 140.00 back on the radar in the short-term horizon. Further up is seen the June 2015 peak at 141.05 (June 4).

In the meantime, while above the 200-day SMA at 130.43, the outlook for the cross is expected to remain constructive.

EUR/JPY daily chart