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  • EUR/JPY accelerates the sell-off below the 120.00 mark.
  • Immediately to the downside emerges the 119.60 region.

The downside in EUR/JPY has picked up extra pace after breaching the key 200-day SMA in the 120.80 region on Friday and the 100-day SMA around 120.30 on Monday.

While sellers remain in control, then the area of 119.60, or late November lows, should emerge on the horizon ahead of November’s low at 119.25.

Furthermore, as long as the 200-day SMA caps the upside, the selling bias in the cross is expected to remain unchanged.

EUR/JPY daily chart