- EUR/JPY’s recovery moves further north of the 116.00 mark.
- Next interim target emerges at the short-term resistance line at 116.87.
EUR/JPY is extending the bounce off YTD lows in the mid-114.00s, managing to reclaim the 116.00 mark and beyond at the same time.
The ongoing recovery is expected to meet the next hurdle at the short-term resistance line near 116.90 ahead of May lows in the 117.80 region.
Above the latter, the selling pressure in the cross is predicted to subside somewhat.
EUR/JPY daily chart
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