EUR/JPY Price Analysis: Recovery targets the 125.00 area

• EUR/JPY picks up pace and reverses three daily pullbacks.
• Immediately on the upside emerges monthly tops beyond 125.00.

EUR/JPY is posting some gains after three consecutive daily drops, with the weekly support coming in near 123.70 (November 12).

If bulls manage to push the cross higher, then the next level of relevance will be the so far monthly peaks in the area past 125.0 0 the figure (November 9). Further north comes in the late-September highs near 126.50.

Further out, while above the key 200-day SMA at 121.28 EUR/JPY is expected to keep the positive bias unchanged.

EUR/JPY daily chart