EUR/JPY Price Analysis: Next on the downside comes 158.90

• EUR/JPY drops to multi-day lows in the sub-162.00 area.
• Further south comes the 55-day SMA near 158.90.

EUR/JPY extends the decline below the 162.00 support at the beginning of the week.

Further downside appears well on the cards for the cross in the short-term horizon. That said, losses could then accelerate to the provisional 55-day SMA at 158.87 ahead of the interim 100-day SMA at 158.02.

So far, the longer term positive outlook for the cross appears favoured while above the 200-day SMA, today at 152.79.

EUR/JPY daily chart