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  • EUR/JPY has resumed the upside and is flirting with the key barrier at 121.00 the figure, returning to levels close to the overbought area, as measured by the RSI.
  • Further buying impulse should meet the next relevant hurdle at recent tops in the mid-121.00s.
  • The resumption of the up move on a convincing fashion is expected to target the key 200-day SMA at 122.20.

EUR/JPY daily chart