EUR/JPY Price Analysis: Further losses could retest 153.30

• EUR/JPY extends the weekly corrective decline to the 155.00 region.
• Next on the downside emerges the monthly lows near 153.30.

EUR/JPY is down for the third session in a row to multi-day lows near the 155.00 region on Wednesday.

Further correction now appears in store and the cross could now challenge the July lows near 153.30 (July12) prior to the interim 55-day SMA, today at 153.08.

So far, the longer term positive outlook for the cross appears favoured while above the 200-day SMA, today at 146.36.

EUR/JPY daily chart