EUR/JPY Price Analysis: Rebound now targets the 119.00 region

• EUR/JPY is looking to extend the rebound from the 115.50 zone.
• Immediately to the downside is located the 2017 low at 114.85.

EUR/JPY is extending the bounce off recent lows near 115.50 to the current area beyond 117.00 the figure, where some resistance turned up.

Looking at the broader picture, the downside pressure is expected to lose some momentum on a surpass of April tops in the 119.00 neighbourhood.

If this area of resistance is surpassed, then the next target of relevance will be at the 200-day SMA, today at 119.47.

EUR/JPY daily chart