EUR/JPY Price Analysis: Next target remains at the 200-day SMA
- EUR/JPY keeps flirting with the 200-day SMA near 120.30.
- Further north emerges the monthly peaks near 121.50.
EUR/JPY has managed to regain some upside traction on Thursday, although a breakout of the 200-day SMA near 120.30 still remains elusive.
A breakout of this area should mitigate the downside pressure somewhat and re-shift the focus to the monthly tops in the mid-121.00s.
The resumption of the selling bias should initially target weekly lows around 119.40.
EUR/JPY daily chart