EUR/JPY Price Analysis: Further gains likely near-term

• EUR/JPY surpasses the 127.00 mark and clinches fresh tops.
• The net target comes in at the 2019 highs around 127.50.

EUR/JPY advances for the fourth session in a row and manages to finally break above 127.00 the figure on Thursday.

That said, the cross appears to have broken above the consolidative mood prevailing since December and extra upside now appears on the cards with the next key target at the 2019 highs in the mid-127.00s (March 1).

Looking at the broader picture, while above the 200-day SMA at 122.43 the outlook for the cross should remain constructive.

EUR/JPY daily chart