Everybody seems to want to sell EUR/JPY today, Japanese corporates, hedge funds, CTAs, all seem happy to sell the cross despite the 5% fall of the past 3 weeks. The range so far today has nonetheless been fairly tight between 103.00/40 which suggests that plenty of market participants are quite happy to book some profit as well.
Next technical support levels are at 102.95, 102.75 and 102.50.
