EUR/JPY Price Analysis: Minor resistance is located at 130.00

• EUR/JPY adds to Friday’s gains in the 129.70 zone.
• Further upside could re-visit the psychological 130.00 mark.

The recovery in EUR/JPY still looks healthy and it has quickly left behind the 129.00 yardstick as well as the key 200-day SMA in the last sessions.

In the current context, there is an interim hurdle at the 130.00 level followed by a minor resistance at the 55-day SMA at 130.23. If the bullish momentum picks up extra pace, then the next target of note is located near 130.56/67 band, where sits the July 29 high and a Fibo level.

Above the 200-day SMA (129.22), the outlook for EUR/JPY is expected to remain positive.

EUR/JPY daily chart