EUR/JPY Technical Analysis: Breakout of 126.00 allows a test of YTD peaks at 127.50

• EUR/JPY is flirting with the key short-term resistance line in the low-126.00s on the back of positive mood in the risk-associated complex.
• The cross has so far managed to break above the multi-session sideline theme prevailing since the start of April and in doing so has opened the door for a probable test of 127.00 and beyond, where is located the 2019 high.
• A surpass of yearly highs at 127.50 should help the cross to attempt a visit to the critical 200-day SMA at 127.68.

EUR/JPY daily chart