EUR/JPY Price Analysis: Further losses on the cards

• EUR/JPY keeps the weekly bearish note well in place.
• The next support of note emerges at the 154.00 region.

EUR/JPY adds to the ongoing weekly decline and revisits the 155.50 zone at the end of the week.

The cross accelerates its losses and leaves behind the overbought territory, revisiting at the same time the mid-155.00s on Friday. Against this backdrop, the continuation of the retracement appears in store in the short term, with the next contention emerging at the weekly low of 154.04 (June 20).

So far, further upside looks favoured while the cross trades above the 200-day SMA, today at 145.57.

EUR/JPY daily chart