EUR/JPY Price Analysis: Above 126.50 comes in the 2021 highs near 127.50

• EUR/JPY adds to recent gains and flirts with 126.30/35.
• The 2021 highs in the 127.50 zone come up next.

EUR/JPY adds to Wednesday’s gains and extends further the weekly recovery to the 126.30 region on Thursday.

If the buying pressure morphs into a more serious bullish attempt, then the YTD highs around 127.50 should return to the radar in the near-term.

Looking at the broader picture, while above the 200-day SMA at 123.07 the outlook for the cross should remain constructive.

EUR/JPY daily chart