EUR/USD at risk of another fall below 1.0500?

Since the last update here on the markets, stocks fell further and that saw the DAX did just below 18,900 and the FTSE 100 take out its previous day low at 8,074. The CAC 40 has fallen closer to the 7,100 handle and all the US stock futures fell back, led by a more than 4% fall in the grey market price of NVDA, which dented the Nasdaq 100 futures further. Meantime the USD/JPY fell back further too and all the major Yen crosses went lower with it, as noted in an earlier update. Right now the USD/JPY is bouncing from an earlier low just underneath 154.10 and that is adding fresh pressure on the EUR/USD right now. Why you might ask? Well, that is because of the EUR/JPY dynamic and price discovery, because the EUR/JPY is still under pressure and that is forcing the EUR/USD down to session lows right now. The EUR/USD just traded below 1.0515. The immediate risk is; without a rebound in the EUR/JPY and the rebound in the USD/JPY continues, that could force the EUR/USD below the 1.05 handle again. It is just now trading at 1.0517