EURJPY declines with eyes on 121.76 support zone as it holds on its bear pressure. On the downside, support comes in at the 121.00 level where a break if seen will aim at the 120.50 level. A cut through here will turn focus to the 120.00 level and possibly lower towards the 119.50 level. On the upside, resistance resides at the 122.50 level. Further out, we envisage a possible move towards the 123.00 level. Further out, resistance resides at the 123.50 level with a turn above here aiming at the 124.00 level. On the whole, EURJPY retains its broader downside pressure.
