EUR/JPY Price Analysis: Next on the upside is seen the 200-day SMA

• EUR/JPY adds to Friday’s advance and retargets 130.00.
• Further up comes the 200-day SMA, today at 130.02.

EUR/JPY advances sharply and manages to retake the 129.00 mark and beyond at the beginning of the week.

In case the rebound picks up extra pace, then the next barrier emerges at the temporary 55-day SMA 129.77 before the more relevant 200-day SMA, today at 130.02. If cleared, then the cross should start assessing a probable visit to 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