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  • EUR/JPY remains under heavy downside pressure and continues to navigate the area of decent support around 117.70.
  • Further downside is therefore likely and the immediate support emerges in the mid-117.00s, where sits September 12th low ahead of 116.56 (low August 26th).
  • On the broader view, while the resistance line at 119.18 caps the upside, the negative stance is seen unchanged.

EUR/JPY daily chart