EUR/JPY Price Analysis: Extra gains could test 130.80

• EUR/JPY extends the rally and finally surpassed the 130.00 mark.
• Next on the upside comes September highs around 130.80.

The upside momentum in EUR/JPY gathers further traction and reclaims the key hurdle at 130.00 the figure on Tuesday.

The cross flirts with the short-term resistance line (off June’s high) around 130.00 and the surpass of this area should expose the monthly highs in the 130.80 zone, coincident with the 100-day SMA.

Above the 200-day SMA at 129.65 the outlook for the cross is expected to return to the constructive side.

EUR/JPY daily chart