EUR/JPY Price Analysis: The bearish note persists near-term

• EUR/JPY clinches new 2020 lows in the mid-115.00s.
• Immediately to the downside emerges the 2017 low at 114.85.

EUR/JPY attempted a rebound from last week’s 2020 lows in the vicinity of 115.50 - area last traded in April 2017 - although the bull run failed near 116.50 so far.

If the selling bias accelerates, then there are no significant support levels until the 2017 low at 114.85.

Looking at the broader picture, the downside pressure is expected to lose some momentum on a surpass of April tops in the 119.00 neighbourhood.

EUR/JPY daily chart