EUR/JPY cross jumped to 125.20 a few hours before press time, the highest level since March 22. The US-China trade optimism and the resulting rise in the Asian equity markets is likely weighing over the anti-risk JPY.
With a move above 125.00, the pair has confirmed a flag breakout on the 4-hour chart, a continuation pattern, which usually accelerates the preceding bullish move. As a result, the pair could rise further towards 126.00 (target as per the measured move method).
Supporting the bullish case is the 4-hour chart relative strength index (RSI), which is currently reporting bullish condition with an above-50 print.


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