• EUR/JPY reverses three daily pullbacks and approaches 140.00.
• The 4-month resistance line in the mid-141.00s caps the upside.

EUR/JPY manages to regain some poise and flirts with the 140.00 region following three daily sessions with losses.

While below the 4-month resistance line near 141.50, further losses should remain in the pipeline and another drop to the July low at 136.85 (July 8) should not be ruled out.

In the longer run, the constructive stance in the cross remains well underpinned by the 200-day SMA at 133.56.

EUR/JPY daily chart