EUR/JPY Price Analysis: Outlook should shift to bearish below the 200-day SMA

• EUR/JPY falls off the cliff and retests the 200-day SMA near 141.80.
• The next support level emerges at the February low in the mid-139.00s.

EUR/JPY debilitates further and breaks below the 142.00 to print new 4-week lows near 141.80 at the beginning of the week.

EUR/JPY breaks below the consolidative range and challenges the key 200-day SMA, today at 141.77. A sustainable breach of the latter should open the door to extra weakness to, initially, the February low at 139.54 (February 10).

Below the 200-day SMA the outlook for the cross is expected to shift to negative.

EUR/JPY daily chart