EUR/JPY Price Analysis: Next big supports comes in at 128.12

• EUR/JPY accelerates the weekly losses and breaches 130.00.
• Next on the downside comes in the 200-day SMA.

The downside momentum in EUR/JPY gathers extra steam and forces the cross to break below the key support at 130.00 on Thursday.

The mid-129.00s (April lows) emerge as the next support of note. The loss of this area could spark a deeper pullback to the critical 200-day SMA, today at 128.12.

Below the latter, the outlook for EUR/JPY is expected to shift to bearish.

EUR/JPY daily chart