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  • EUR/JPY gradually edges higher and flirts with the resistance line.
  • Further north comes in the early-September top near 126.50.

EUR/JPY struggles for direction in the 124.70 zone on Thursday, where also converge the 55-day SMA and the 3-month resistance line.

The cross needs to leave behind this zone on a convincing fashion and preferably in the near-term to allow for the continuation of the recovery to, initially, the mid-126.00s recorded on September 10.

Above the 200-day SMA, today at 120.98, the outlook on the cross is expected to remain constructive.

EUR/JPY daily chart