EUR/JPY Technical Analysis: Recovery tests the 10-day SMA around 124.90

• The cross is adding to Friday’s gains and is now looking to reclaim the critical resistance at 125.00 the figure.
• EUR/JPY has briefly tested the 124.90 region early in the session, where sits the key 10-day SMA and remains the last defence for a visit to the key 125.00 neighbourhood.
• Looking at the broader picture, the outlook on the cross remains bearish while the 6-month resistance line at 126.53 caps the upside.

EUR/JPY daily chart