EUR/JPY failed to stay above the 126.40 March 30th low and seems to be making its way in a new daily down trend channel.
Prices may retrace up to the 127.38 level short term before making its way lower to the 122.06 March 12th low. A daily Head and Shoulders pattern adds to the bearish tone with a measuring target of 115.00. A break above 130.00 would invalidate this bearish scenario.