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  • EUR/JPY meets a tough barrier in the 125.00 neighbourhood so far.
  • A surpass of this level should put a visit to 126.50 back on the radar.

EUR/JPY’s upside momentum faltered around 125.00 on Friday, area just above the 3-month resistance line.

The cross needs to leave behind this zone on a convincing fashion (and preferably in the very 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 121.02, the outlook on the cross is expected to remain constructive.

EUR/JPY daily chart