EUR/JPY Technical Analysis: The cross faces near term resistance in the mid-125.00s

• The cross is attempting a sideline theme in the upper end of the recent range in the 125.50 region.
• Extra gains are likely if EUR/JPY manages to clear the 100-day SMA at 125.95 ahead of the key short-term resistance line, today at 126.22. A breakout of this area should help mitigate downside pressure.
• Further up, immediate target remains at 2019 highs in the 127.50 region.

EUR/JPY daily chart