EUR/JPY technical analysis: Heavy below 200-DMA

• While below the 200-DMA, bears targetting the 119.91 78.6% Fibonacci retracement.
• June and current July highs on the way to 125.52, the 78.6% retracement higher up. 

EUR/JPY consolidates around the 2019 uptrend line at 121.35, capped at 121.50 but above the 120.79 June low. Lower down we have the 119.91 78.6% Fibonacci retracement, guarding 117.85 January spike low. Uo ahead, bulls can target the 123.34/75 May 21, June and current July highs on the way to 125.52, the 78.6% retracement and the 200-day moving average at 125.40. Higher up, there is the 2018- 2019 resistance line at 127.82.