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EUR/JPY technical analysis: Under pressure, back into the April downtrend

  • EUR/JPY is under pressure and is moving back into the April downtrend following a short-lived correction from the May lows (at the 78.6% Fibo).
  • On a retest of the downside and at said level, bears can look to the 117.85 January spike low.
  • On the upside, 123.75, May 21 high and the 55 day moving average at 123.64 guards 125.52 ahead of the  200 day ma at 126.31 and the 200 week moving average at 126.27. 

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