EUR/JPY Technical Analysis: Focus still remains on 2019 lows near 116.50

• EUR/JPY is trading flat in the low-117.00s following Tuesday’s negative price action.
• The inability to regain serious upside traction and the persistent uncertainty around the US-China trade war and its effects on the safe havens keeps the cross under pressure and increases the probability of another visit to yearly lows in the 116.50 region in the near term.
• While below the 55-day SMA at 120.34 the bearish stance is expected to prevail. This area of resistance is reinforced by the multi-month resistance line at 120.60.

EUR/JPY daily chart