EUR/JPY might have been the biggest technical loser last week after a 430 pip decline.
On Friday it briefly traded below the 200-day moving average for the first time since October 31. The level is at 140.30 and the final trade on Friday was 140.32.
EURJPY daily – 200dma in orange
A bearish cross is also about to take place with the 21dma about to cross below the 55dma.
Looking at the bigger picture, EUR/JPY also fell and closed below the 21-week and 55-week moving averages.
EURJPY weekly with 55dma
That leaves scant support until the trendline at 138.63 and the 100-week moving average at 136.14.