EUR/JPY Technical Analysis: Weekly upside remains limited around 121.40

• EUR/JPY is alternating gains with losses in the 121.00 neighbourhood, while weekly gains remain unable to surpass the 121.40 region for the time being.
• Interim resistance emerges at the 21-day SMA at 121.33, coincident with the upper end of the weekly range. Downside pressure is expected to alleviate on a surpass of the 55-day SMA, today at 121.86.
• The negative view on the cross is also reinforced by the short-term resistance line just below 122.00 the figure.

EUR/JPY daily chart