Bearish
EUR/JPY hovers around 178.50, maintaining bearish trend amid oversold conditions.
EUR/JPY continues to trade near 178.50, reflecting a persistent bearish trend. The 14-day Relative Strength Index (RSI) at 29.84 indicates ongoing downside pressure, with potential support at the lower boundary of its descending channel near 177.60.
Key points
- EUR/JPY remains below both the nine-day and 50-day Exponential Moving Averages (EMAs), suggesting sustained bearish momentum.
- The 14-day RSI at 29.84 signals oversold conditions, indicating potential for a corrective rebound.
- The pair is trading within a descending channel, with the lower boundary near 177.60 serving as immediate support.
Sources
AI-generated from public news sources. Not financial advice.
