EUR/JPY Price Analysis: Next on the downside comes 134.30

• EUR/JPY remains under pressure and challenges 135.00.
• Further downside could see the 134.30 zone retested.

EUR/JPY accelerates losses and revisits new 3-week lows in the 135.00 neighbourhood on Wednesday.

Further weakness remains the name of the game for the cross in the very near term at least. That said, the leg lower could extend further and retest the monthly lows around 134.30.

In the meantime, while above the 200-day SMA at 130.61, the outlook for the cross is expected to remain constructive.

EUR/JPY daily chart