EUR/JPY Technical Analysis: Next target at the 55-day SMA near 119.70

• EUR/JPY has resumed the upside following Friday’s corrective pullback.
• Further upside is expected to reach last week’s top at 118.61 (Thursday) ahead of 119.58 (August 13 high).
• The cross should move above the 55-day SMA at 119.70 and the resistance line at 120.00 to alleviate near term downside pressure.

EUR/JPY daily chart