EUR/JPY Price Analysis: Extra gains seen above 126.50
|- EUR/JPY’s upside momentum falters once again near 126.50.
- Next on the upside comes in the 2021 highs in the 127.50 zone.
EUR/JPY gives away part of Friday’s gains and meets support in the 126.00 neighbourhood so far.
If the buying pressure morphs into a serious recovery, then extra gains to the YTD highs around 127.50 should return to the radar in the near-term once 126.50 is cleared.
Looking at the broader picture, while above the 200-day SMA at 122.93 the outlook for the cross should remain constructive.
EUR/JPY daily chart
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