EUR/JPY Price Analysis: Strong upside could retest 2021 highs

  • EUR/JPY regains the 132.00 mark and above on Friday.
  • The next target of relevance comes at the YTD peaks past 134.00.

EUR/JPY’s march north remains unabated and already surpassed the key barrier at 132.00 the figure on Friday.

The abrupt move higher in the cross left behind minor resistance levels at Fibo retracements and now faces the next hurdle at the Fibo level at 132.79. Further up from here there are no obstacles of relevance until the 2021 high at 134.12 recorded on June 1.

In the broader scenario, while above the 200-day SMA at 129.88, the outlook for EUR/JPY is expected to remain constructive.

EUR/JPY daily chart

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