EUR/JPY Technical Analysis: Upside capped by the resistance line at 126.68

• The cross is extending the promising start of the week and is now regaining the mid-124.00s after bottoming out in the 123.85/80 band on Friday.
• Initial target on the upside emerges at t he 55-day SMA at 125.23 ahead of the 100-day SMA at 126.35.
• While below the short-term resistance line, today at 126.68, EUR/JPY is expected to remain under further downside pressure.

EUR/JPY  daily chart