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EURJPY traded sharply lower last Thursday as the bear leg that started mid-November accelerated. The cross has cleared all key short-term retracement points of the Oct - Nov rally. This strengthens the current bearish threat. Key support at 154.46, the Oct 3 low, has been pierced. Clearance of this level would open 151.42, the Jul 28 low. Initial firm resistance is at 158.67, the Dec 7 high. Short-term gains are considered corrective - for now.