EUR/JPY Price Analysis: Extra gains seen above 132.80

• EUR/JPY adds to Wednesday’s gains above the 132.00 level.
• Further upside expected above the resistance line (132.80).

EUR/JPY extends the rebound after bottoming out in weekly lows near 131.30.

The continuation of the recovery needs to clean the 132.80 area, where sits the resistance line (off 2021 lows), to allow for extra gains to, initially, the 133.00 neighbourhood.

In the broader picture, while above the 200-day SMA at 127.92 the broader outlook for the cross should remain constructive.

EUR/JPY daily chart