EUR/JPY Price Analysis: Further gains now look to 127.50

• EUR/JPY surpasses the previous YTD highs and tests 125.80.
• Further up now aligns the March 2019 high in the mid-127.00s.

EUR/JPY extends the recovery on the back of the generalized better note in the risk complex on Wednesday.

Further gains are thus expected amidst the current positive environment, and there are no relevant hurdles until the March 2019 high in the 127.50 region.

The constructive view around EUR/JPY is predicted to remain unchanged while above the 200-day SMA at 120.15.

EUR/JPY weekly chart