EUR/JPY Price Analysis: Rising bets for extra upside near term

• EUR/JPY resumes the upside following Thursday’s pullback.
• Extra gains target the 200-day SMA in the short term.

EUR/JPY fades Thursday’s downtick and resumes the weekly recovery just above 129.00 the figure on Friday.

In case the rebound picks up extra pace, then the next barrier emerges at the temporary 55-day SMA 129.80 before the more relevant 200-day SMA, today at 130.04. If cleared, then the cross should re-focus on the weekly high at 131.90 (February 16).

In the meantime, while below the 200-day SMA, the outlook for the cross is expected to remain negative.

EUR/JPY daily chart