EUR/JPY Technical Analysis: Scope for a test of YTD lows at 117.50

• EUR/JPY is reversing two sessions with gains and has resumed its attention to the area below the 118.00 mark.
• The current move lower should immediately target 2019 lows in the mid-117.00s (August 12) ahead of 2017 low at 114.85.
• While below the immediate resistance line at 119.95 caps the upside, the bearish view is expected to persist. Above this area, the downside pressure should subside somewhat.

EUR/JPY daily chart