EUR/JPY Technical Analysis: Upside met tough barrier at the resistance line near 120.00

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  • EUR/JPY is seeing some correction lower following Friday’s tops in the 120.00 neighbourhood, where sits the key multi-month resistance line.
  • The continuation of t he leg lower should see meet interim support at the 10-day SMA at 118.40 ahead of the 21-day SMA at 117.96.
  • On the opposite direction, if bulls regain the upper hand, the next relevant hurdle comes in at 120.85, the 100-day SMA.

EUR/JPY daily chart

 

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