EUR/JPY Price Analysis: A drop to the 200-day SMA remains in store

• EUR/JPY loses further ground and breaches the 142.00 level.
• The next support is seen at the key 200-day SMA near 140.80.

EUR/JPY adds to the weekly leg lower and breaks below the key support at 142.00, or 2-day lows, on Wednesday.

In case the downside accelerates, the next support of note emerges at the 200-day SMA, today at 140.79. A sustainable drop below the latter exposes extra weakness to, initially, the 138.00 neighbourhood.

The constructive outlook for EUR/JPY is seen unchanged above the 200-day SMA for the time being.

EUR/JPY daily chart