EUR/JPY Technical Analysis: Further upside stays capped by the 121.50 region

• EUR/JPY has resumed the upside and is flirting with the key barrier at 121.00 the figure, returning to levels close to the overbought area, as measured by the RSI.
• Further buying impulse should meet the next relevant hurdle at recent tops in the mid-121.00s.
• The resumption of the up move on a convincing fashion is expected to target the key 200-day SMA at 122.20.

EUR/JPY daily chart