EUR/JPY Price Analysis: Strong upside momentum targets 130.00 and above

• EUR/JPY remains (very) firm and approaches the 130.00 mark.
• Above 130.00 comes in the November 2018 high at 130.14.

EUR/JPY adds to the ongoing rally and trades at shouting distance from the psychological 130.00 hurdle.

A move above the 130.00 mark should put back on the radar the 130.14 level (November 7 2018) ahead of the summer 2018 high at 131.98 (July 17).

Reinforcing the idea of extra gains, EUR/JPY keeps trading above the immediate support line (off November 19 2020 low) near 126.65, where also coincides the 55-day SMA.

Looking at the broader picture, while above the 200-day SMA at 124.19 the outlook for the cross should remain constructive.

EUR/JPY daily chart