EUR/JPY Technical Analysis: Further downside could see the 120.80 region retested

• EUR/JPY is extending the correction lower and is now putting the key support at 122.00 the figure to the test.
• The acceleration of the selling impulse carries the potential to drag the cross to recent lows in the 120.80/75 band ahead of YTD lows in sub-119.00 levels (‘flash crash’ in early January).
• Furthermore, the negative view on the cross remains unchanged below the multi-month resistance line, today at 125.09.

EUR/JPY daiy chart