• EUR/JPY is picking up further pace on Thursday, navigating in multi-day highs and flirting with the 21-day and 55-day SMAs around 118.30.
  • Immediately to the upside emerges the short-term resistance line at 118.86. Below this area the bearish view is expected to persist.
  • If this area is cleared, then the cross could attempt a visit to the 100-day SMA at 119.89 and September’s high in the 120.00 neighbourhood.

EUR/JPY daily chart