EUR/JPY Price Analysis: Rebound now targets the YTD high above 124.00

• EUR/JP’s rebound pierced the 122.00 mark on Tuesday.
• Next of relevance on the upside is the 2020 high beyond 124.00.

EUR/JPY is prolonging the bounce off recent lows for yet another session, briefly managing to surpass the 122.00 mark although losing some composure afterwards.

If bulls manage to remain in control, then a potential move to the yearly peaks around 124.40 (June 5) should return to the fore.

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

EUR/JPY daily chart