EUR/JPY Price Analysis: Next target comes at 130.00 and above

• EUR/JPY’s recovery falters just ahead of the 130.00 level.
• Extra gains seen above the short-term resistance line.

The upside momentum in EUR/JPY appears to have run out of steam in the boundaries of the key hurdle at 130.00 the figure on Monday.

Further upside needs to surpass the key short-term resistance line, today just above 130.00, to open the door to a move to the mid-130.00s in the near term ahead of the 100-day SMA at 130.82.

While below the 200-day SMA at 129.63 the outlook for the cross should remain bearish for the time being.

EUR/JPY daily chart