EUR/JPY Price Analysis: Remains on the defensive near 119.25

• EUR/JPY stays weak and dropped to 119.30/25, new 2020 lows.
• Further south emerges the November 2019 low at 119.24.

EUR/JPY is prolonging the leg lower after breaking below the 120.00 mark earlier in the session.

If sellers keep controlling the markets’ sentiment then the next target should emerge at the November 2019 low at 119.24 ahead of the October 2019 low at 117.07.

The bearish stance remains well in place as long as the 200-day SMA, today at 120.48, caps the upside.

EUR/JPY daily chart