EUR/JPY Price Analysis: Further losses likely below the 200-day SMA

• EUR/JPY trades with modest losses and adds to Thursday’s strong drop.
• The cross broke below the 200-day SMA, exposing further weakness.

EUR/JPY remains under pressure and briefly revisited the key 140.00 neighbourhood at the end of the week.

The cross appears to have broken below the multi-session consolidative phase as well as the 200-day SMA, today at 140.93.

In doing so, further decline now appears in store in the very near term and with the immediate target at the 138.00 region.

EUR/JPY daily chart