The EUR/JPY has been dropping towards Weekly camarilla pivots and at this point the price action suggests that it may drop further targeting Weekly L5 at 122.40. Now moment sellers may appear in the POC zone (50.0, ATR pivot, D L5, trend line, bearish order block) 123.60-80. If we don’t see any retracement a clear break or 4h close below 122.94 should target W L5 – 122.40. The price is currently below all Daily camarilla pivots and below W L4 that indicates a strong bearish pressure.
