EUR/JPY Technical Analysis: Recovery still targets 123.00 and above

• The recent upside in EUR/JPY faced headwinds on Monday but it seems to have regained some shine today, trading at shouting distance from the key 123.00 barrier.
• Immediately to the upside emerge March peaks in the 123.75/80 band ahead of the 55-day SMA at 123.92.
• In the meantime, the bearish view on the cross remains intact while below the multi-month resistance line, today at 125.21.

EUR/JPY daily chart