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  • EUR/JP’s upside reaches the 129.85 area on Thursday.
  • Next on the upside emerges the YTD highs near 130.00.

EUR/JPY advances for the third session in a row and consolidate the recent breakout of the 129.00 hurdle.

Bulls remain in control for the time being and keep targeting the 2021 highs just below 130.00 the figure (February 25). Further north of this area comes in 130.14 (November 7 2018) ahead of the summer 2018 high at 131.98 (July 17).

Reinforcing the idea of extra gains, EUR/JPY keeps trading above the immediate support line (off November 19 2020 low) in the 127.20 area, where also converges the 50-day SMA.

In the meantime, while above the 200-day SMA at 124.70 the broader outlook for the cross should remain constructive.

EUR/JPY daily chart