EUR/JPY Technical Analysis: further upside now targets the 121.50 region

• EUR/JPY is looking to extend the positive momentum so far this week on the back of the renewed buying bias in the European currency.
• That said, the next target to the upside aligns in the mid-121.00s, where are located recent tops. A breakout of this area of resistance should pave the way for a visit to the key 200-day SMA at 122.12.
• The resumption of the selling bias should meet strong support in the 120.00 neighbourhood ahead of the 100-day SMA near 119.68.

EUR/JPY daily chart