EUR/JPY Technical Analysis: Initial hurdle emerges at the 55-day SMA near 119.40

• EUR/JPY met some decent weekly contention near the 10-day SMA at 118.64 and is now looking to extend the recovery beyond 119.00 the figure.
• Immediately to the upside aligns the 55-day SMA near 119.40. A move further north of this area should put the psychological 120.00 handle back on the radar.
• Further up lines up the 100-day SMA at 120.78 ahead of late July peaks in the 121.40 area.

EUR/JPY daily chart