The selling in pairs like EUR/JPY hasn’t eased at all and we are now trading at session lows near 107.55 after earlier highs at 108.25. There has been no major news out to affect this cross, so it is probably due to some profit taking to start the week.
There is technical support near here in the form of an hourly low and a 38.2% retracement (105.65/108.65) which comes in at 107.50. The 50% and 61.8% retracements of this move are at 107.15 and 106.80.
