EUR/JPY Technical Analysis: Remains bearish below the short-term resistance line at 123.22

• EUR/JPY has extended the rejection from last week’s tops beyond 123.00 the figure and it is now navigating multi-day lows in the 121.50/40 band.
• If the selling impetus gathers traction, the 121.00 neighbourhood should return to the fore ahead of 120.78 (May lows).
• Furthermore, the negative view on the cross remains intact below the short-term resistance line, today at 123.22.

EUR/JPY daily chart