EUR/JPY Technical Analysis: The cross stays well supported near 120.80

• EUR/JPY is extending the positive start of the week and is now once again flirting with the key 121.00 mark.
• In the meantime, strong support continues to hold the downside in the 120.80/75 band.
• If this area of contention is breached, there are no relevant levels until 2019 lows in the sub-119.00 zone recorded in early January.
• Below the 55-day SMA at 122.08 the negative outlook is expected to persist for the time being.

EUR/JPY daily chart