EUR/JPY Price Analysis: Extra upside should visit the 123.00 area
- The upside momentum in EUR/JPY run out of steam near 122.80 on Tuesday.
- The rally now targets the 123.00 level and above.
The rising optimism in the risk-complex ahead of the sign of the US-China’s ‘Phase One’ deal has been the main source of upside pressure in EUR/JPY in past sessions.
The cross has quickly left behind the key hurdle at 122.00 the figure and advanced to the 122.75/80 band earlier today, where it met some strong resistance.
Further upside emerges the 123.309 area, July 2019 highs.
EUR/JPY daily chart