EUR/JPY continues to face downside pressure as it looks to weaken further towards its key support at 116.11 level. On the downside, support comes in at the 116.50 level where a break if seen will aim at the 116.00 level. A cut through here will turn focus to the 115.50 level and possibly lower towards the 115.00 level. On the upside, resistance resides at the 117.50 level.
Further out, we envisage a possible move towards the 118.00 level. Further out, resistance resides at the 118.50 level with a turn above here aiming at the 119.00 level. On the whole, EUR/JPY continues to retain its downside pressure.e way for a move towards the 1.0750 level. All in all, EUR/JPY looks for more upside pressure on correction.
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