EUR/JPY Technical Analysis: Downside in the cross could extend to the 120.80 region in the near term

• EUR/JPY has come under further downside pressure in tandem with the increasing selling bias surrounding the European currency as of late.
• The continuation 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).
• On the broader outlook, the bearish bias on the cross remains intact below the multi-month resistance line, today at 124.88.

EUR/JPY daily chart