EUR/JPY Technical Analysis: Upside now targets the 123.00 neighbourhood

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  • EUR/JPY is up for another session and is navigating weekly highs in the 122.80 region, flirting at the same time with the short-term resistance line at 122.87.
  • The rebound from last week’s lows remains well and sound sustained at the same time by Friday’s bullish ‘outside day’.
  • Immediately to the upside emerges the next significant hurdle at 123.17, or monthly peaks ahead of 123.75 (May 21 high).

EUR/JPY daily chart

 

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