EUR/JPY Price Analysis: Bullish attempts target 125.00

• EUR/JPY meets initial contention in the 123.80 region so far.
• Immediately to the upside emerges the 125.00 hurdle.

EUR/JPY adds to Wednesday’s moderate pullback and meets initial contention in the 123.80 area so far on Thursday.

Further south emerges the 100-day SMA at 123.50, which should offer extra support if the selling bias intensifies. Occasional bullish attempts, on the opposite side, need to regain recent tops in the 125.00 neighbourhood to allow for extra gains.

In the meantime, while above the 200-day SMA at1 121.09,  the outlook on the cross is expected to remain constructive.

EUR/JPY daily chart