EUR/JPY Price Analysis: Next on the downside comes the 100-day SMA

• EUR/JPY resumes the selling bias and breaks below 139.00.
• A deeper decline should face the 100-day SMA near 137.30.

EUR/JPY quickly fades Monday’s advance and regains downside momentum well below the 139.00 mark on Tuesday.

Further losses remain in store for the cross while below the 4-month resistance line near 141.70. Against that, the next temporary support comes at the 100-day SMA at 137.34 ahead of the July low at 136.85 (July 8).

In the longer run, the constructive stance in the cross remains well underpinned by the 200-day SMA at 133.59.

EUR/JPY daily chart