• EUR/JPY extends the leg lower to the 159.00 zone.
• Further downside could revisit the 100-day SMA near 158.60.

EUR/JPY accelerates its losses and puts the 159.00 support to the test at the beginning of the week.

The continuation of the downward bias appears on the cards for the time being. Against that, the 100-day SMA at 158.62 is expected to offer temporary contention prior to the October low of 154.34 (October 3).

So far, the longer term positive outlook for the cross appears favoured while above the 200-day SMA at 153.71.

EUR/JPY daily chart