EUR/JPY Price Analysis: Next target comes in at 131.00

• EUR/JPY extends the upside to the 130.80 region.
• Next on the upside comes in the YTD tops near 131.00.

EUR/JPY adds to the recent recovery and slowly approaches the key 131.00 neighbourhood.

Current price action suggests further consolidation remains well on the cards in the near-term, although a potential break higher seems to have gathered extra steam as of late. That said, the 2021 highs just below 131.00 the figure comes up next ahead of the 2018 high at 131.98 (July 17).

In the meantime, while above the 200-day SMA at 126.13 the broader outlook for the cross should remain constructive.

EUR/JPY daily chart