EUR/JPY Price Analysis: Extra gains appear in the pipeline near term

• EUR/JPY extends the weekly recovery to the vicinity of 137.00.
• The next up barrier lines up at the 100-day SMA near 137.80.

EUR/JPY advances for the third consecutive session and flirts with the 137.00 zone on Thursday.

Considering the ongoing price action, further upside in the cross appears likely for the time being, with the interim hurdles at the 100- and 55-day SMAs at 137.84 and 139.49, respectively.

While above the 200-day SMA at 133.73, the outlook for the cross is expected to remain constructive.

EUR/JPY daily chart