EUR/JPY Price Analysis: Further decline targets 128.30

• EUR/JPY resumes the downtrend and breaches 129.00.
• Next of note on the downside comes the 128.30 region.

EUR/JPY accelerates losses and drops below the key support at 129.00 the figure on Friday.

A deeper pullback looks likely with the immediate support now emerging at October’s low at 128.33 (October 6). If cleared, then a move to the YTD low at 127.93 (September 22) should return to the radar in the short-term horizon.

Below the 200-day SMA, today at 130.51, the outlook for the cross is seen as negative.

EUR/JPY daily chart