EUR/JPY takes another hit after French and German data

Earlier today the EUR/JPY came under pressure when it fell below 161.25. The EUR/JPY had already taken a big hit yesterday, when it crumbled to below 161.50 from earlier highs around 163.75. That slide was noted here at the time and the EUR/JPY closed in the US last night at 161.87. The low seen earlier today at 161.20 then led to a rebound to 162.49, as the USD/JPY lifted from a session low 153.97, back to around 154.87. Well, since the French and German PMI releases, the USD/JPY has fallen back with the EUR/USD and now this has sent the EUR/JPY lower once more. It is not threatening the lows yet, but the risks of a deeper drop below the 160 handle appear to be rising. The EUR/JPY is currently trading at 161.62