EUR/JPY Technical Analysis: Corrective downside could test the 100-day SMA at 119.59

EUR/JPY is extending the correction lower following the renewed demand for the safe haven JPY.
The continuation of the leg lower could see the key 100-day SMA near 119.60 re-tested in the short-term horizon ahead of the 55-day SMA just above 119.00 the figure.
On the flip side, the resumption of the bullish mood continues to target the area of recent tops in the mid-121.00s.

EUR/JPY daily chart

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