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  • The sell-off in EUR/JPY following the FOMC meeting is now testing the 10-day SMA in the 125.80 region.
  • Further gains in the Japanese safe haven could spark a deeper correction to, initially, the 55-day SMA at 125.22.
  • In the meantime, while above the short-term support line at 124.48, the constructive stance on the cross should remain unchanged for the time being.

EUR/JPY daily chart