EUR/JPY Price Analysis: Rising odds for a breach of 115.50

• EUR/JPY remains immersed into the negative territory near 116.00.
• Immediately to the downside emerges the yearly lows in the mid-115.00s.

EUR/JPY is extending the pessimism in the first half of the week, gyrating around the 116.00 area amidst a broad-based negative bias.

If the selling bias accelerates, then the yearly low in the 115.50 area should emerge on the horizon. Further south comes the 2017 low at 114.85.

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.