EUR/JPY Price Analysis: Renewed weakness could put the 200-day SMA to the test

• EUR/JPY breaks below the 141.00 mark to record new 3-month lows.
• Extra losses now target the key 200-day SMA just above 139.00.

EUR/JPY remains entrenched in the negative territory and drops to new 3-month lows in the 140.80/75 band at the end of the week.

The sharp pullback breached the 4-month support line and left the cross vulnerable to a deeper decline. Against that, the next support of relevance is expected at the critical 200-day SMA, today at 139.08.

The outlook for EUR/JPY is expected to remain positive while above this region.

EUR/JPY daily chart