Bearish
EUR/JPY tests lower boundary of descending channel near 176.50 amid bearish momentum.
Over the past 24 hours, EUR/JPY has continued its downward trend, testing the lower boundary of a descending channel near 176.50. The 14-day Relative Strength Index (RSI) at 27.00 indicates oversold conditions, suggesting potential for a short-term rebound. However, the prevailing bearish momentum remains intact.
Key points
- EUR/JPY tests lower boundary of descending channel near 176.50.
- 14-day RSI at 27.00 signals oversold conditions.
- EUR/JPY continues its seventh consecutive day of decline.
Sources
AI-generated from public news sources. Not financial advice.
