EUR/JPY Technical Analysis: The cross now targets the 200-day SMA above 122.00

• The rally in EUR/JPY remains well in place so far, tracking the solid performance of the European currency and the persistent offered bias in the Japanese safe haven.
• The cross is navigating fresh 3-month tops in the 121.40 region, coincident with late July peaks.
• The continuation of the upside momentum could visit the critical 200-day SMA at 122.25 in the near term.

EUR/JPY daily chart