EUR/JPY Price Analysis: Interim hurdle turns up around 132.00

• EUR/JPY falters once again in the 132.00 region on Monday.
• Extra gains look on the cards with the target at the 2022 high.

EUR/JPY fades part of the recent strong upside after testing the decent hurdle near the 132.00 mark, or monthly highs.

The cross gathered extra upside traction following the recent breakout of the 200-day SMA (129.97). The surpass of the 131.90/132.00 area could likely allow EUR/JPY to attempt an assault of the 2022 top at 133.15 (February 10).

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

EUR/JPY daily chart