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  • EUR/JPY is extending the sidelined theme below the 122.00 handle and is at the same time eroding the 21-day SMA in the 121.30 region.
  • Further rangebound is thus expected as long as the 55-day SMA, today at 121.88, caps the upside.
  • The negative view on the cross is also reinforced by the short-term resistance line just below 122.00 the figure.

EUR/JPY daily chart