EUR/JPY Price Analysis: Decline expected to pick up pace

• EUR/JPY breaches the 116.00 support and prints new 2020 lows.
• The next relevant level on the downside is the 2017 low at 114.85.

EUR/JPY is navigating fresh YTD lows in the 115.80 region at the time of writing, coming in under extra downside pressure on the back of persistent weakness in the shared currency.

 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