EUR/JPY Price Analysis: Further gains likely above 130.00

• EUR/JPY extends the upside momentum to 130.00.
• Next on the upside now comes the 131.90 level.

EUR/JPY rises for the third consecutive session and reclaims the 130.00 zone for the first time since late February.

Considering the ongoing price action, extra advance in EUR/JPY appears most likely, particularly if the cross surpasses the key 200-day SMA at 130.00 on a sustainable fashion. Against that, a visit to the weekly high at 131.90 (February 16) could start shaping up in the short-term horizon.

In the meantime, if the cross advances above the 200-day SMA, the outlook for the cross is expected to shift to constructive.

EUR/JPY daily chart