EUR/JPY Price Analysis: Immediately to the upside comes 134.00 and above

• EUR/JPY extends the upside to the vicinity of 134.00.
• Bulls’ immediate target emerges at the 2021 high (134.12).

EUR/JPY advances for the third session in a row, although a breakout of 134.00 the figure remains elusive for the time being.

The cross has quickly left behind the previous YTD high beyond 133.00 the figure (March 10), although the subsequent bullish attempt faltered just ahead of the 134.00 mark. The door therefore remains open to a potential visit to the 2021 top at 134.12 (June 1).

In the meantime, while above the 200-day SMA (129.98), the outlook for the cross is expected to remain constructive.

EUR/JPY daily chart