EURJPY - Having the cross paused its weakness to close lower on Wednesday, further decline is likely. Support comes in at the 123.00 level where a break will aim at the 122.50 level. A turn below here will target the 122.00 level with a breach turning focus to the 121.50 level. Its daily RSI is bearish and pointing lower suggesting further weakness. Conversely, resistance lies at the 124.00 level. Further out, resistance comes in at the 124.50 level where a break if seen will threaten further upside towards the 125.00. Further out, resistance resides at the 125.50 level. All in all, EURJPY continues to vulnerable to the downside.
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