EUR/JPY - Are You Ready For The Drop 2.0?

Likely Scenario: Move to the downside after a break below 124.19 with targets at 122.53

On the monthly timeframe, we can see price continuing to fall for the last 16 months now due to a number of factors and not it has broken it monthly support 124.80 AGAIN! since 2019 we also have the cross of the EMAs on the higher timeframes confirming a short could take place.

Now on the weekly chart, we have a mini support line at 123.60 which price could possibly break and continue to roll over due to the higher timeframe show, now look out for fundamental news that could affect this pair and trade safe...