EUR/JPY Technical Analysis: Rising odds for a test of 121.00 and beyond

• 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 quickly left behind the 120.00 neighbourhood and it has now shifted its attention to the 121.00 area and above.
• Further up emerges late July peak near 121.40 ahead of the critical 200-day SMA at 122.28.

EUR/JPY daily chart