EUR/JPY Technical Analysis: Next target remains at 121.50

• EUR/JPY remains bid in the upper end of the weekly range.
• Attention stays on the mid-121.00s, October highs.

EUR/JPY keeps navigating the area of recent peaks in the 120.60.70 band amidst the continuation of the selling pressure in the safe haven JPY.

Further upside is seen re-visiting October peaks in the mid-121.00s ahead of the critical 200-day SMA in the 121.60 region.

In case sellers return to the market, the 119.64/24 band should come back to the fore, where coincide the 55-day and 100-day SMAs along with monthly lows.