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  • The rally in EUR/JPY remains well in place so far, tracking the solid performance of the European currency and the persistent offered bias in the Japanese safe haven.
  • The cross has briefly printed fresh 3-month tops in the 121.30/35 band on Thursday, area coincident the late July tops, just to give away some gains afterwards.
  • However, the near term bullish outlook in the cross looks solid and targets the critical 200-day SMA in the 122.30 region.

EUR/JPY daily chart