EUR/JPY Technical Analysis: The cross is flirting with the resistance line near 126.70

• The cross is prolonging the consolidation theme above the 126.00 milestone for the time being, testing the key resistance line near 126.70.
• Once and if cleared, the next target to the upside should be YTD highs in the mid-127.00s ahead of the key 200-day SMA at 127.64.
• On the downside, the 125.80/30 band offers solid contention, coincident with the 10-, 100-, 55- and 21-day SMAs.

EUR/JPY daily chart