Just like the EURUSD is toying with the 1.1700 level, the EURJPY is toying with key support at the 128.00 level. The reason why this is such a MAJOR support level is this is the 13 year re-test of the broken trend line (2008 – present). The pair broke this trend line back in April of this year, and now we are back testing it once again. Also, the EURJPY is at the 50% retracement of the Oct 2020 lows to May 2021 highs. If the EURUSD breaks the 1.1700 level and EURJPY 128.00, there is a big risk that the EUR sees some strong downside pressure in the weeks ahead. All eyes turn to the FOMC tomorrow which could make/break these two pairs.