- EUR / JPY upside is hit hard at 124.50.
- In case of going bankrupt, the next target is seen at 125.00.
The EUR / JPY recovery appears to have stalled at the 124.50 region so far this week, giving way to the correction.
In case of exceeding that area, a visit to the monthly peaks just above 125.00 should be allowed, where the October maximum is also located. However, if the weakness extends further, the EUR / JPY could revisit the recent lows at the 122.85 / 80 band (Nov 19).
The downside bias is expected to ease somewhat with a breakout of the 125.00 region in the near term.
EUR / JPY day chart
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