EUR/JPY Price Analysis: Door open for a move to 2020 highs beyond 124.00

EUR/JPY extends the upside to the vicinity of 123.00 on Monday.
Further up emerges the 2020 peaks in the 124.40/45 band.

EUR/JPY is pushing higher and it has surpassed already the January peaks in the 122.90 region.

Extra upside momentum is now expected to target the 2020 peaks beyond the 124.00 mark in the short-term horizon. Further up emerges the May 2019 high at 125.23 (May 1).

As long as the 200-day SMA at 119.84 holds the downside, the outlook on the cross is seen as constructive.

EUR/JPY daily chart

Jul 20, 2020

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