• EUR/JPY’s downside momentum picks up further pace on Friday.
• Extra decline could leave the 144.00 region as a short-term top.

EUR/JPY trades on the defensive for the third session in a row and breaks below the 142.00 mark at the end of the week.

The continuation of the decline would likely leave the recent peaks in the 144.00 neighbourhood as short-term tops. In case the downside accelerates, there is an interim support at the 139.50/75 band, where the 100- and 55-day SMAs coincide.

In the meantime, while above the key 200-day SMA at 136.15, the constructive outlook for the cross should remain unchanged.

EUR/JPY daily chart