EUR/JPY Technical Analysis: Extra losses could extend to YTD lows in sub-119.00 area

EUR/JPY has resumed the downside and is now trading in fresh multi-month lows in the 120.40 region.
The cross broke below the key contention area at 120.80 and in doing so has opened the door for the continuation of the down move.
Immediately to the downside emerges 2019 lows in the sub-119.00 zone recorded in early January.
Below the 55-day SMA just above the 122.00 handle the negative outlook is expected to persist.

EUR/JPY daily chart

Jul 24, 2019

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