EUR/JPY Price Analysis: Flirting with the 200-day SMA around 120.00

• EUR/JPY advances further and tests the 120.00 region.
• Above the 200-day SMA the selling pressure should alleviate.

The recovery in EUR/JPY has gathered extra pace in past sessions, with the cross managing to regain the 200-day SMA in the 120.00 zone.

On the broader picture, a break above the key 200-day SMA, today at 120.03, on a sustainable fashion should open the door to extra gains.

Further north emerges the February peaks near 121.50 ahead of the 2020 high near 123.00 the figure recorded back in January.

EUR/JPY daily chart