EUR/JPY Price Analysis: Up up up you go

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  • EUR/JPY quickly cleared the 126.00 mark on Thursday.
  • Further up now aligns the March 2019 high in the mid-127.00s.

EUR/JPY extends the recovery on the back of the broad-based improvement in the risk-associated universe in the second half of the week.

Further gains are thus expected amidst the current positive environment, and there are no relevant hurdles until the March 2019 high in the 127.50 region. It is worth mentioning, however, that the cross has already entered the overbought territory, as per the daily RSI.

The constructive view around EUR/JPY is predicted to remain unchanged while above the 200-day SMA at 120.18.

EUR/JPY weekly chart

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