EUR/JPY Price Analysis: Next target on the downside is at 114.85

• EUR/JPY breaches 116.00 and navigates the YTD lows near 115.50.
• Immediately to the downside is located the 2017 low at 114.85.

EUR/JPY remains fragile despite the ongoing bullish attempt following a visit to the yearly lows in the mid-115.00s.

If the selling bias accelerates, then the next contention of significance will be the 2017 low at 114.85 (April 17).

Looking at the broader picture, the downside pressure is expected to lose some momentum on a surpass of April tops in the 119.00 neighbourhood.

EUR/JPY daily chart