EUR/JPY edges higher to 176.10, yet technical analysis suggests the pair remains under pressure within a established descending channel pattern.
EUR/JPY rebounds from 12-month lows but remains in a descending channel, indicating persistent bearish bias.
The EUR/JPY currency pair climbed to 176.10 during Friday's Asian session, snapping a two-day losing streak. Despite the short-term recovery, technical indicators confirm the pair remains trapped within a descending channel, signaling a continued bearish outlook for the cross.
The pair maintains a bearish bias as it continues to trade within a descending channel pattern on the daily chart.