EUR/JPY Price Analysis: Extra gains appear favoured

• EUR/JPY remains firm and now targets 130.00.
• Further upside could see the mid-130.00s re-tested.

The recovery in EUR/JPY still looks healthy and it has quickly left behind the 129.00 yardstick as well as the key 200-day SMA in the last couple of sessions.

Immediately to the upside emerges the psychological 130.00 hurdle followed by a minor resistance at the 55-day SMA at 130.36. If the bullish momentum picks up extra pace, then the next target of note is located near 130.56/67 band, where sits the July 29 high and a Fibo level.

Above the 200-day SMA (129.15), the outlook for EUR/JPY is seen as constructive.

EUR/JPY daily chart