EUR/JPY Price Analysis: Extra pullbacks could test the 200-day SMA

• The leg lower in EUR/JPY could reach 120.84.
• Extra losses are expected below the 200-day SMA.

EUR/JPY has resumed the downside on Thursday and aims for a potential visit to the 55-day SMA just above 121.00 the figure.

In case sellers regain control, there are no supports of significance until the key 200-day SMA, today at 120.84.

Below this area, the negative outlook should be reinstated in the cross.

EUR/JPY daily chart