EUR/JPY Technical Analysis: Rising odds for a test of 119.50, the 55-day SMA

• EUR/JPY is extending the weekly recovery and it has managed to regain the key 119.00 neighbourhood, clinching at the same time fresh 4-week tops.
• Immediately to the upside emerges the key 55-day SMA at 119.52 ahead of later August peak at 119.58.
• The downside pressure is expected to ease somewhat on a surpass of the multi-month resistance line, today at 119.95.

EUR/JPY daily chart