EUR/JPY Price Analysis: Next on the downside comes the 200-day SMA

• EUR/JPY remains on the defensive and breaches 136.00.
• Further decline could see the 200-day SMA retested.

EUR/JPY adds to to Friday’s pullback and breaks below the 136.00 yardstick on Monday.

In case bears push harder, then the cross could attempt another visit to the key 200-day SMA at 133.92 prior to the August low at 133.39 (August 2).

While above the 200-day SMA, the prospects for the pair should remain constructive.

EUR/JPY daily chart