EUR/JPY Price Analysis: Further gains likely above 130.00

• EUR/JPY finally surpasses the key 200-day SMA around 130.00.
• The continuation of the uptrend now targets the 131.90 level.

EUR/JPY trades with decent gains for the fourth consecutive session and finally manages to trespass the key 200-day SMA around 130.00.

A convincing move above the 200-day SMA should pave the way for extra gains with the immediate target at the weekly high at 131.90 (February 16) ahead of the 2022 peak at 133.15 (February 10).

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

EUR/JPY daily chart