- EUR / JPY extends recent gains and rises above 127.00.
- Annual highs near 127.50 appear as the next hurdle.
The EUR / JPY cross extends the recent rally and manages to rally above the key 127.00 barrier on Friday.
In light of recent price action and the firm tone at the cross, a visit to the 2021 highs in the 127.50 region looks increasingly likely on the near-term horizon.
Higher up it is in the zone of highs from Nov 29 to Dec 13, 2018 at 129.30, before targeting the November 2018 monthly highs at 130.14.
Looking at the bigger picture, as long as EUR / JPY remains above the 200 day SMA today at 123.65, the outlook will remain constructive.
EUR / JPY daily chart
EUR / JPY technical levels
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