- EUR/JPY adds to weekly leg down and breaks 138.00.
- Further losses could retest the June low at 137.83.
The EUR/JPY it remains on the defensive and faces a deeper pullback on the short-term horizon.
The cross now faces the possibility of further decline if it breaks below the 4-month support line around 139.40 convincingly. Against this, immediate containment appears at the June low at 137.83 (June 16), followed by the 100-day SMA today at 135.84.
In the longer term, the constructive stance on the cross remains well supported by the 200-day SMA at 132.98.
EUR/JPY daily chart
Technical levels
Source: Fx Street
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