EUR/JPY Price Analysis: Decent support emerged around 131.00/130.80

• EUR/JPY manages to bounce off the 130.80 region on Friday.
• The 100-day SMA awaits around the 130.40 zone.

EUR/JPY so far manages to regain some composure and rebounds from earlier multi-week lows in the 130.80 region.

The continuation of the downside is seen re-visiting the minor support at the 100-day SMA around 130.40 ahead of the psychological barrier at 130.00. Further south, albeit not favoured for the time being, comes in the April lows in the 129.60 zone.

In the broader picture, while above the 200-day SMA at 127.58 the broader outlook for the cross should remain constructive.

EUR/JPY daily chart