EUR/JPY Price Analysis: Next on the downside comes 140.89

• EUR/JPY accelerates the decline below the 142.00 mark.
• Further losses could revisit the October low in the sub-141.00 area.

EUR/JPY looks well offered and drops to new 2-month lows in the 141.00 region on Thursday.

The sharp pullback below the 4-month support line opens the door to a deeper retracement in the short term, with the immediate target at the October low at 140.89 (October 10).

Below the latter emerges the key 200-day SMA, today at 139.02. The outlook for the cross is expected to remain positive while above this region.

EUR/JPY daily chart