- EUR/JPY’s rebound meets tough barrier in the 120.00 neighbourhood.
- If cleared, the cross could revisit the 121.00 mark and beyond.
The march north in EUR/JPY appears to have met a strong barrier in the 120.00 area so far on Monday.
If cleared, the March peaks just above 121.00 the figure should emerge next on the short-term horizon.
While above the 200-day SMA at 119.16, the outlook on the cross is seen as constructive.
EUR/JPY daily chart