- EUR / JPY struggles to regain ground on Tuesday.
- Recent highs around 127.50 offer initial resistance.
EUR / JPY finds it difficult to gain bullish momentum and remains on the sidelines below 127.00 on Tuesday.
The continuation of the bearish bias should expose a potential test to the 126.00 neighborhood in the near term, ahead of the 125.70 zone, or the lower bound of the recent multi-week consolidation.
Looking at the bigger picture, as long as it remains above the 200-day SMA at 122.57, the outlook for the crossover should remain constructive.
EUR / JPY day chart
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