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  • EUR/JPY is prolonging the weekly sideline theme just below the 118.50 region.
  • Immediately to the upside emerges the 21-day SMA at 118.86 ahead of last week’s tops near 119.90.
  • Looking at the broader picture, while below the 55-day SMA at 120.64 and the multi-month resistance line at 120.79, the bearish view is expected to remain unchanged.

EUR/JPY daily chart