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  • EUR/JPY resumes the downside and approaches the 2020 low at 115.50.
  • Further south emerges the 2017 low at 114.85.

The selling bias in EUR/JPY is picking up extra pace during the first half of the week, re-shifting its focus back to the area of yearly lows in the mid-115.00s.

If the downside gather further steam, then the 2017 low at 114.85 should return to the traders’ radar.

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.

EUR/JPY daily chart