Chart - Courtesy Trading View
EUR/JPY was trading 0.93% lower on the day at 128.75 at around 05:20 GMT, retracing slightly from session lows at 128.36.
The pair plunged lower as Russian news agencies reported Putin ordered troops to invade Ukraine.
The euro sank to a three-week low amid intensifying fears that a full-scale Russian invasion of Ukraine was imminent.
Russian President Vladimir Putin said he had authorised military action in Ukraine's breakaway region of Donbass.
EUR/JPY plunges below daily cloud. Momentum has turned bearish. Price action has slipped below 55-week EMA.
Technical indicators have turned bearish. MACD and ADX now support further downside in the pair.
Geopolitical headlines to drive market moves. Scope for test of next major support at 110-week EMA at 127.65.
