EUR/JPY Technical Analysis: The 100-day SMA is offering some support

• EUR/JPY has managed to surpass September’s tops beyond 120.00 the figure and advance to fresh peaks in the vicinity of 120.30, losing some ground afterwards.
• The cross is now deriving some weakness from the soft note around the European currency, while the 100-day SMA in the 119.80 region is offering some contention for the time being.
• Looking at the broader picture, the continuation of the upside momentum should motivate the cross to test the critical 200-day SMA, today at 122.30.

EUR/JPY daily chart