EUR/JPY sailed through Friday’s low as stops were tripped below 95.75 and is now consolidating below 95.80.
It’s difficult to envision a further, large decline ahead of the ECB but the turnaround has been sharp and coincided with the mid-July highs.
Expect to see support at the 61.8% retracement of last week’s rebound at 95.32 along with bids at 95.20/30.