- EUR/JPY extends current bearish move around 137.00.
- Bullish attempts initially target the 138.30 region.
EUR/JPY extends weekly decline, falls for the third session in a row and breaks below 137.00 on Wednesday.
The cross, meanwhile, remains within the consolidation theme since the beginning of the month. A break of this pattern should leave the weekly high of 138.31 (9th May high) behind to allow for a possible visit to the 139.00 level before the 2022 high around 140.00 (21st Apr).
Meanwhile, if it remains above the 200-day SMA at 130.98, the outlook for the cross is expected to remain constructive.
EUR/JPY day chart
Source: Fx Street
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