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  • EUR/JPY is trading mostly flat in the second half of the week, with clear support in the 120.40 region for the time being.
  • Interim resistance emerges at the 10-day SMA at 120.82 ahead of weekly tops in the 121.40 region. The cross should mitigate downside pressuer on a surpass of the key 55-day SMA at 121.80.
  • The negative view on the cross is also reinforced by the short-term resistance line just below 122.00 the figure.

EUR/JPY daily chart