EUR/JPY Price Analysis: Initial hurdle aligns at 119.00

• EUR/JPY’s recovery run out of steam just below 119.00 the figure.
• If cleared, the cross could test the 200-day SMA at 119.24.

The march north in EUR/JPY remains unabated and met initial resistance at the 119.00 neighbourhood, where some selling interest appears to have turned up.

If buyers manage to clear the 119.00 area, then there is scope for a potential test of the critical 200-day SMA, today at 119.24.

Further up emerges the March’s highs just beyond the 121.00 yardstick.

EUR/JPY daily chart