EUR/JPY Technical Analysis: Decline could extend to 2019 lows in sub-119.00 levels

• The increased demand for the safe haven Japanese currency has dragged EUR/JPY to fresh lows in the 120.80 region.
• The sharp pullback has now exposed a potential re-visit to YTD lows in the sub-119.00 region following the ‘flash crash’ recorded in the very first sessions of the year.
• In the broader picture, while below the multi-month resistance line at 125.40, the negative prospect on the cross should remain intact.

EUR/JPY daily chart