EUR/JPY Technical Analysis: Bearish view unchanged. Next support lies at 114.85

• The selling pressure around EUR/JPY remains unabated and is now navigating fresh yearly lows in the 117.60/50 band.
• Looking at the broader picture, the negative stance on the cross is expected to remain unchanged while below the 121.35/40 band, where coincide the short-term resistance line and the 55-day SMA. Above this area the downside pressure should mitigate somewhat.
• If the selling impetus picks up extra pace, the next relevant support aligns at 2017 low at 114.85.

EUR/JPY daily chart