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  • EUR/JPY is extending the down move to the mid-122.00s after being rejected from weekly highs in the 123.70 region earlier in the week.
  • Weekly highs in the 123.70/75 band emerge as the interim hurdle in case bulls regain the upper hand.
  • In the meantime, a visit to recent lows in the 122.00 neighbourhood remains well on the cards in the short-term horizon while below the critical multi-month resistance line, today at 125.71.

EUR/JPY daily chart