EUR/JPY Price Analysis: Looks firmer and approaches 123.00

• The bull run in EUR/JPY remains well and sound so far.
• The rally now targets the 123.00 level and above.

EUR/JPY keeps pushing higher amidst the generalized better tone in the risk complex, managing well to extend the upside momentum and trade at shouting distance from the 123.00 neighbourhood.

Immediately above emerges the 123.30 region, where sits July 2019 highs. Further up, there are no relevant hurdles until April’s top in the 126.80 zone.

While above the 200-day SMA just below the 121.00 mark, the outlook on the cross is expected to remain bullish.

EUR/JPY daily chart