EUR/JPY Technical Analysis: Room for a test of 121.00 and below

• EUR/JPY is prolonging the weekly downside and is now trading closer to the key support at 121.00 the figure.
• The cross has intensified the decline on the back of rising selling pressure around the European currency and after the breakdown of the 21-day and 10-day SMAs.
• Immediately down emerges the 120.95/73 band, June lows, which are considered the last defence for a test of YTD lows in sub 119.00 levels recorded back in January.

EUR/JPY daily chart