EUR/JPY Technical Analysis: Rebound from yearly lows should struggle at the 21-day SMA near 117.70

• EUR/JPY clinched fresh YTD lows in the vicinity of 115.80 on Tuesday, although managing to regain the 116.00 handle and above soon afterwards.
• Further upside impetus could push the cross to, initially, the 10-day SMA at 117.17 ahead of the 21-day SMA at 117.75, where emerges a stronger resistance.
• If sellers regain the upper hand, the resumption of the leg lower is seen re-testing recent lows and head towards April 2017 low at 114.85.

EUR/JPY daily chart