EUR/JPY Price Analysis: A drop to 130.00 is not ruled out

• EUR/JPY accelerates the weekly losses to the vicinity of 131.00.
• Interim support comes in at the 100-day SMA below 131.00.

The downside momentum in EUR/JPY picks up extra pace and tests the proximity of the 131.00 yardstick on turnaround Tuesday.

The continuation of the downtrend should meet an interim support at the 100-day SMA just below 131.00 the figure. Further south, there is no relevant contention region until the psychological 130.00 zone, where sits the June lows.

In the broader picture, while above the 200-day SMA at 128.05 the broader outlook for the cross should remain constructive.

EUR/JPY daily chart