- The cross is showing some recovery after finding support in the 10-day SMA near 121.70.
- Friday’s bullish ‘outside day’ sparked a correction higher to the 122.50 region, losing some momentum afterwards on renewed EUR-weakness.
- Ideally, EUR/JPY needs to clear the short-term resistance line at 122.16 in order to alleviate the current downside pressure and attempt a test of the 123.00 handle and beyond.
EUR/JPY daily chart