EUR/JPY Price Forecast: Declines below 178.00, bearish outlook prevails under the 100-day SMA

The EUR/JPY cross trades in negative territory around 177.90 during the early European session on Thursday. The Japanese Yen (JPY) strengthens against the Euro (EUR) after minutes of the Bank of Japan's (BoJ) September meeting reinforced expectations for further interest ‌rate hikes.