EUR/JPY Price Analysis: Further upside likely to test 127.00

  • EUR/JPY extends the recovery to the area above the 126.00 mark.
  • Immediately to the upside is located the 2020 highs near 127.10.

EUR/JPY is prolonging the uptrend for yet another session and is already reclaiming the 126.00 neighbourhood.

If the buying interest picks up extra pace, then EUR/JPY should shift its attention to the so far yearly highs just beyond 127.00 the figure recorded on September 1.

The constructive view around EUR/JPY is predicted to remain unchanged while above the 200-day SMA at 120.75.

EUR/JPY daily chart

 

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