EUR/JPY Price Analysis: Extra losses likely below 136.85

• EUR/JPY accelerates the decline below 138.00 on Thursday.
• Immediately to the downside now emerges the July low at 136.85.

EUR/JPY rapidly retreats to 2-week lows south of the 138.00 yardstick on Thursday.

The cross remains under pressure and is vulnerable to further decline while below the weekly high at 142.32 (July 21).  Against that, the next support of note aligns at the July low at 136.85 (July 8). If breach on a sustainable fashion, then the cross could attempt a move to the critical 200-day SMA, today at 133.65.

In the longer run, the constructive stance in the cross remains well underpinned by the 200-day SMA at 133.65.

EUR/JPY daily chart