EUR/JPY Price Analysis: Next on the upside appears 121.40

• EUR/JPY advances further to the 121.00 region on Tuesday.
• The February’s peak near 121.50 emerges as the next hurdle.

After briefly testing lows in the 200-day SMA near 119.50 on Monday, EUR/JPY managed to regain some buying interest and is now flirting with the 121.00 region.

If the bullish attempt gathers serious traction, then the February’s top near 121.50 should emerge as the next interim resistance ahead of January’s high near 122.90.

In the meantime, while above the 200-day SMA the outlook is seen as positive.

EUR/JPY daily chart