EUR/JPY Technical Analysis: The cross is flirting with the 10-day SMA near 120.70

• EUR/JPY has started the week on a positive note well above the 120.00 mark following two consecutive daily pullbacks on the back of renewed EUR weakness.
• Further buying impulse should meet the next relevant hurdle at recent tops in the mid-121.00s ahead of the more relevant 200-day SMA at 122.16.
• The resumption of the selling bias should meet strong support in the 120.00 neighbourhood ahead of the 100-day SMA at 119.71.

EUR/JPY daily chart