EUR/JPY Technical Analysis: Door open for extra losses to 128.40

• EUR/JPY is intensifying the weekly leg lower below the critical support at 123.00 the figure.
• Immediately to the downside lies early January lows in the 122.60 region ahead of 122.39, June 2017 low.
• The cross is expected to keep the negative bias as long as the multi-month resistance line at 126.12 caps the upside. Interim resistance, however, emerges at the 125.03/34 band, where converge the 21-day, 100-day and 55-day SMAs.

EUR/JPY daily chart