EUR/JPY Technical Analysis: Decline expected to break below the 120.00 level in the near term
|- The cross is extending the protracted down move and is now threatening to breach the key support at the 120.00 handle.
- The cross has recently broken below the key contention area at 120.80 and in doing so has paved the way for a deeper pullback.
- Immediately to the downside emerges 2019 lows in the sub-119.00 zone recorded in early January.
- Furthermore, the bearish view should remain unchanged below the 55-day SMA at 121.98.
EUR/JPY daily chart
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