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      EUR/JPY Technical Anal: Occasional drops expected to face support near 121.00

      • EUR/JPY is recovering some ground lost after bottoming out in the vicinity of 121.00 the figure earlier in the week.
      • The resumption of the selling impetus could expose a visit to recent lows in the 120.80/75 band ahead of 2019 lows in sub-119.00 levels (‘flash crash’ in early January).
      • In the meantime, the cross needs to surpass the immediate resistance line at 122.55 in order to mitigate downside pressure and allow for a test of monthly peaks above the 123.00 handle.

      EUR/JPY daily chart

       

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