EUR/JPY Technical Analysis: further upside now targets the 121.50 region

EUR/JPY is looking to extend the positive momentum so far this week on the back of the renewed buying bias in the European currency.
That said, the next target to the upside aligns in the mid-121.00s, where are located recent tops. A breakout of this area of resistance should pave the way for a visit to the key 200-day SMA at 122.12.
The resumption of the selling bias should meet strong support in the 120.00 neighbourhood ahead of the 100-day SMA near 119.68.

EUR/JPY daily chart

Oct 30, 2019

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