EUR/JPY Price Analysis: Further gains likely above the 200-day SMA

• EUR/JPY sees its rebound halted after another test of 142.00.
• Extra gains now shift the focus to the 143.00 zone.

EUR/JPY surrenders part of the recent 2-day strong advance and returns to the negative territory on Tuesday.

A sustainable breakout of the 200-day SMA, today at 140.77, should shift the outlook to a more constructive one and open the door to a probable visit to the key resistance area near 143.00 in the short-term horizon (high December 28, January 11).

On the downside, the 138.00 region still emerges as a decent contention area for the time being.

EUR/JPY daily chart