- EUR/JPY extends the weekly recovery to levels beyond 122.00.
- Further up emerges the YTD peaks in the 124.40/45 band.
EUR/JPY briefly tested the mid-122.00s earlier in the session on Wednesday, losing some upside momentum soon afterwards.
If the buying interest picks up pace and manages to clear this region, there is a minor hurdle at the January’s top at 122.87 ahead of the 2020 peaks beyond the 124.00 mark.
As long as the 200-day SMA at 119.77 holds the downside, the outlook on the cross is seen as constructive.
EUR/JPY daily chart