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  • EUR/JPY advances strongly and retakes the 127.00 mark.
  • The 2021 highs in the 127.50 zone come up next.

EUR/JPY extends the weekly recovery and finally manages to reclaim the 127.00 yardstick and beyond.

Further upside now seems on the cards, with the next hurdle of relevance at the YTD highs around 127.50. If cleared, then the 130.10/15 band should emerge on the horizon (November 2018 highs).

Looking at the broader picture, while above the 200-day SMA at 123.12 the outlook for the cross should remain constructive.

EUR/JPY daily chart