EUR/JPY Price Analysis: Next on the upside comes in 125.00

• EUR/JPY keeps pushing higher and extends the rebound further.
• Interim hurdle aligns at the 55-day SMA near 124.70.

EUR/JPY extends further the bounce off last week’s lows in the 123.00 neighbourhood on the back of improved mood in the risk universe.

If the buying pressure gathers extra traction, then the cross is expected to meet an interim barrier in the 124.70/75 band, where sits the 55-day SMA ahead of the more relevant monthly tops in the 125.00 zone (October 9).

In the meantime, while above the 200-day SMA at1 121.08,  the outlook on the cross is expected to remain constructive.

EUR/JPY daily chart