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EUR/JPY drops to multi-day lows in the sub-162.00 area

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 favored while above the 200-day SMA, today at 152.79.