EUR/JPY Technical Analysis: Downside pressure alleviated above 122.41

• The cross has managed to get back some buying interest after two consecutive sessions with losses, although it still trades below the key 122.00 handle.
• Immediately to the upside emerges the next hurdle in the 121.90 region, where coincide the 10-day and 21-day SMAs.
• Ideally, EUR/JPY needs to clear the short-term resistance line at 122.41 in order to alleviate the current downside pressure.

EUR/JPY daily chart