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  • EUR/JPY is navigating the area of 2019 lows in the 116.20 region, levels last visited in April 2017, always on the back of the unabated selling bias in the European currency.
  • The continuation of the leg lower is thus expected and a test of the 116.00 support looks imminent. Further south, there are no significant levels until April 2017 low at 114.85.
  • Occasional bullish attempts should meet interim hurdle at the 10-day SMA at 117.32 ahead of the 21-day SMA at 117.88.

EUR/JPY daily chart