EUR/JPY trades at 175.90, struggling to break out of a persistent descending channel pattern that maintains a bearish bias for the currency pair.
EUR/JPY fell below 176.00 after a bullish gap opening, but the descending channel pattern indicates a persistent bearish bias.
The EUR/JPY currency pair trades near 175.90 during Monday's Asian session, attempting a recovery after three consecutive days of losses. Despite the minor intraday gain, 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.