EUR/JPY Price Analysis: Corrective decline could revisit 146.30

• EUR/JPY extends the weekly correction to the sub-150.00 zone.
• Further retracement could see the cross retest the 146.30 region.

EUR/JPY adds to Tuesday’s decline and breaches the key 150.00 support on Wednesday.

The underlying bullish stance appears unchanged so far, although the ongoing correction carries the potential to extend to the weekly low at 146.30 (April 25), where the cross is expected to meet decent contention.

So far, further upside looks favoured while the cross trades above the 200-day SMA, today at 142.60.

EUR/JPY daily chart