EUR/JPY Technical Analysis: The cross faces tough resistance in the mid-125.00s

• The cross is correcting lower after the rebound from recent lows near the 124.00 handle lost momentum just above 125.00 the figure on Monday.
• Initial hurdle remains at the 125.30/50 band, where converge the 10-, 100-, 55- and 21-day SMAs. When and if cleared, monthly tops in the 126.90 region should return to the fore.
• In the meantime, EUR/JPY stays under pressure while below the multi-month resistance line, today ay 126.47.

EUR/JPY daily chart