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  • EUR/JPY remains sidelined above the 122.00 handle so far this week, with prospects of further downside still on the cards.
  • As longs as the multi-month resistance line at 125.62 caps the upside, the cross is expected to re-visit the area of recent lows in the 122.00 neighbourhood.
  • Occasional bullish attempts should meet initial hurdle at last week’s tops in the 123.70/75 band ahead of the more relevant 55-day SMA at 124.60.

EUR/JPY daily chart