EUR/JPY trades at 177.10, showing a slight recovery while remaining constrained by a persistent descending channel that signals continued bearish pressure.
The article notes EUR/JPY is rebounding but remains within a descending channel, indicating a bearish bias.
The EUR/JPY currency pair inches higher to 177.10 during Thursday's European session, recovering from recent losses. Despite the modest rebound, technical indicators confirm the pair remains trapped within a descending channel, reinforcing a prevailing bearish outlook for the short term.
The pair maintains a bearish bias as it continues to trade within a descending channel pattern on the daily chart.