EUR/JPY Price Analysis: Next target is now at 121.00

• EUR/JPY’s rebound meets tough barrier in the 120.00 neighbourhood.
• If cleared, the cross could revisit the 121.00 mark and beyond.

The march north in EUR/JPY appears to have met a strong barrier in the 120.00 area so far on Monday.

If cleared, the March peaks just above 121.00 the figure should emerge next on the short-term horizon.

While above the 200-day SMA at 119.16, the outlook on the cross is seen as constructive.

EUR/JPY daily chart