Bearish
EUR/JPY remains below 178.00 amid persistent bearish momentum.
Over the past week, EUR/JPY has consistently traded below the 178.00 mark, indicating sustained bearish pressure. Technical analyses highlight the pair's confinement within a descending channel, suggesting potential further declines.
Key points
- Bearish Channel Pattern: EUR/JPY continues to trade within a descending channel, reinforcing a bearish outlook.
- Technical Indicators: The Relative Strength Index (RSI) remains below 36, indicating persistent bearish momentum.
- Limited Upside Potential: Analysts suggest that intervention expectations may cap any potential upside for EUR/JPY.
Sources
AI-generated from public news sources. Not financial advice.
