EUR/JPY Price Analysis: Interim resistance emerges around 130.70

• EUR/JPY’s upside meet interim hurdle near 130.70.
• Next on the upside comes in the 131.00 area.

The sharp rally in EUR/JPY seems to have faltered around the 130.70 region on Friday, area coincident with a Fibo level (of the January-June rally).

If bulls remain in control of the sentiment, the further gains target levels just above 131.00 the figure, where converges the July 13 top and the 100-day SMA.

Above the 200-day SMA (129.35), the outlook for EUR/JPY is seen as constructive.

EUR/JPY daily chart