- EUR/JPY surpassed the 10- day and 21-day SMA and appears to be heading further north on the back of the rally in the European currency.
- Immediately to the upside emerge June’s peaks near 123.20 ahead of the 55-day SMA at 123.43 and 123.75 (high May 21).
- Ideally, EUR/JPY needs to clear the short-term resistance line at 122.36 in order to alleviate the current downside pressure.
EUR/JPY daily chart
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