EUR/JPY trades below the 178.00 threshold as the pair struggles to maintain recent gains, with technical analysis pointing to a continued downward trend within a descending channel.
The cross is trading around 177.90 on Thursday, below 178.00, after ending a three-day advance. The daily chart keeps EUR/JPY inside a descending channel, which the article describes as a prevailing bearish bias. Mildly positive momentum is noted but does not overturn the bearish technical setup.
Around 177.90 during European hours on Thursday, below 178.00.
A descending channel that indicates a prevailing bearish bias.
The EUR/JPY currency cross has retreated to 177.90, snapping a three-day winning streak. Technical indicators on the daily chart remain within a descending channel, signaling a persistent bearish bias despite minor positive momentum.
The pair maintains a bearish bias as it continues to trade within a descending channel on the daily chart.
The pair depreciated after a three-day rally, failing to sustain levels above 178.00.