EUR/JPY Technical Analysis: Daily gains lost momentum near 119.00

• EUR/JPY attempted a move higher during early trade, although the attempt lacked of follow through and faltered around the 119.00 mark.
• In the very near term, occasional bull runs are expected to meet strong resistance in the 119.70 region, where coincide recent peaks and the 21-day SMA.
• On the broader view, as long as the 121.05/20 band caps the upside, the negative outlook is set persist. In this area converge the 55-day SMA and the 4-month resistance line.

EUR/JPY daily chart