EUR/JPY Price Analysis: Rebound targets January peak near 122.90

• EUR/JPY adds to Thursday’s gains above the 122.00 mark.
• Further up emerges the 2020 peaks in the 124.40/45 band.

EUR/JPY is once again flirting with the upper end of the weekly range well past the 122.00 level.

If the buying interest picks up pace and manages to clear this week’s tops, there is a minor hurdle at the January’s top at 122.87 ahead of the 2020 peaks beyond the 124.00 mark.

As long as the 200-day SMA at 119.82 holds the downside, the outlook on the cross is seen as constructive.

EUR/JPY daily chart