EUR/JPY Technical Analysis: Upside momentum picks up pace

• EUR/JPY has surpassed the 122.00 mark on Monday.
• The next target on the upside now emerges in the mid-122.00s.

The rising optimism in the risk-complex ahead of the sign of the US-China’s ‘Phase One’ deal is sustaining the renewed sentiment surrounding EUR/JPY.

The cross finally left behind the key hurdle at 122.00 the figure and is now getting ready to tackle recent tops in the 122.50/60 band ahead of the July 2019 high near 123.30.

While above the key 200-day SMA, today at 120.99, the outlook on the cross is expected to remain positive.

EUR/JPY daily chart