EUR/JPY Technical Analysis: Upside regains traction. Next target at the 21-day SMA at 118.20

• EUR/JPY is adding to yesterday’s gains and is now looking to challenge the interim hurdle at the 10-day SMA in the 117.60 zone.
• Further up lies the 21-day SMA at 118.18. Beyond this area the cross is expected to attempt a visit to mid-August peak at 119.58.
• The inability to regain serious upside traction and the persistent uncertainty around the US-China trade war and its effects on the safe havens keeps the cross under almost permanent pressure. That said, another visit to yearly lows in the 116.50 region should not be ruled out for the time being.

EUR/JPY daily chart