In this paper, we present a novel method for harmonic-percussive sound separation (HPSS) by exploiting continuity/discontinuity properties in a matrix decomposition framework. It is widely accepted in the HPSS research that the harmonic and percussive components have anisotropic characteristics: The spectrum of the harmonic components and the time activation of the percussive components are sparse, whereas the spectrum of the percussive components and the time activation of the harmonic components are smooth. However, conventional methods fail to fully utilize the characteristics leading to suboptimal performance. Based on the observations that not the degree of sparseness but the degree of fluctuation is an accurate measure for distinguishing the harmonic and percussive components, we propose a novel HPSS algorithm by incorporating the continuity control in the iterative update formula of the matrix decomposition algorithm. In doing so, we first utilize probabilistic latent component analysis with Dirichlet prior, and later reformulate the algorithm in the nonnegative matrix factorization framework to reduce the computational cost. The comparative evaluation results show that the proposed method outperforms conventional methods in terms of both objective and subjective evaluation.