EUR/JPY Price Analysis: Recovery now targets 133.00 and above

• EUR/JPY extends the rebound well past the 132.00 mark.
• Next on the upside comes in 133.00 ahead of YTD highs.

EUR/JPY adds to the weekly bounce and retakes the 132.00 yardstick and well above on Wednesday.

The recovery looks healthy and now looks to re-test the round level at 133.00 the figure in the short-term horizon. If cleared, there are no significant hurdle until the 2021 highs at 134.12 recorded on June 1.

In the broader picture, while above the 200-day SMA at 127.68 the broader outlook for the cross should remain constructive.

EUR/JPY daily chart