- EUR / JPY is approaching the upper end of the range near 127.00.
- The next target is at the 2020 highs around 127.20.
EUR / JPY extended the bullish run, closing in on the key neighborhood of 127.00 on Wednesday.
If the EUR / JPY manages to break above the December high near 127.20 (December 29), then the next target of relevance is at the 2019 peaks around 127.50, recorded in early March of that year.
Looking at the bigger picture, as long as it remains above the 200 SMA at 122.38, the outlook for the crossover should remain constructive.
EUR / JPY day chart
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