EUR/JPY Price Analysis: Further downside appears likely near term

• EUR/JPY adds to Monday’s weakness and breaks below 136.00.
• Next on the downside comes the April lows around 134.30.

EUR/JPY keeps correcting lower and breaches the 136.00 support to clinch new multi-day lows on Tuesday.

Further weakness remains well in place in the very near term. Against that, the corrective move in the cross could extend further and revisit the monthly lows around 134.30.

In the meantime, while above the 200-day SMA at 130.59, the outlook for the cross is expected to remain constructive.

EUR/JPY daily chart