EUR/JPY trades lower at 176.70 as technical analysis points to a sustained bearish trend within a descending channel pattern.
The currency cross is trading within a descending channel pattern, indicating a prevailing bearish bias.
The EUR/JPY currency cross retreated to 176.70 during Tuesday's Asian trading session, erasing gains from the previous day. Technical indicators confirm the pair remains trapped within a descending channel, signaling continued downward pressure for the Euro against the Yen.
The currency cross maintains a bearish bias as it continues to trade within a descending channel pattern on the daily chart.