EUR/JPY Price Analysis: Shifts the focus to the 200-day SMA

• EUR/JPY extends the advance to the proximity of the 119.00 mark.
• Immediately to the upside emerges the target at 119.24.

EUR/JPY is extending the bounce off recent lows in the 117.00 neighbourhood and is trading at shouting distance from the key barrier at 119.00 the figure.

If buyers keep pushing higher, then there is scope for a potential test of April’s peak around 119.00 ahead of the critical 200-day SMA, today at 119.24.

Further up emerges the March’s highs just beyond the 121.00 yardstick.

EUR/JPY daily chart