EUR/JPY Price Analysis: The 200-day SMA holds the downside so far

• EUR/JPY keeps the choppy trade around the 136.00 zone.
• The positive outlook remains unchanged above the 200-day SMA.

EUR/JPY fades Wednesday’s downtick and resumes the downside amidst the prevailing erratic performance so far this week.

Extra weakness now appears in store for the cross, with the immediate support at the weekly low at 134.94 (August 16). The loss of this level should expose a deeper pullback to the 200-day SMA, today at 134.18.

While above the latter, the prospects for the pair should remain constructive.

EUR/JPY daily chart