- EUR / JPY extends recent gains and remains near 127.00.
- Annual highs near 127.50 appear as the next hurdle.
The EUR / JPY cross resumes the rise with a firm tone after the recent inconclusive price action, recovering above the 127.00 level.
While further range movement remains on the table in the short term, the EUR / JPY could attempt to move towards the yearly highs in the 127.50 zone should the recovery gain serious traction.
Higher up are the November 29-December 13, 2018 highs in the 129.30 zone, ahead of the November 2018 monthly highs at 130.14.
Looking at the broader outlook, as long as EUR / JPY remains above the 200 SMA at 123.58, the view should remain constructive.
EUR / JPY daily chart
EUR / JPY technical levels
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