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  • EUR/JPY remains under pressure and trades in the lower end of the weekly range in sub-122.00s levels.
  • A deeper retracement should see 120.95 (June 21 low) re-visited ahead of 120.78 (May lows). Further south emerges the yearly lows in the sub-119.00 region recorded in early January.
  • Furthermore, the negative bias on the cross remains intact below the short-term resistance line, today at 123.09.

EUR/JPY daily chart