EUR/JPY faces persistent bearish pressure, trading at 176.90 and remaining capped below key moving averages as the euro records a 0.21% decline against the yen.
The cross is trading around 176.90 after two days of losses, held below the nine-day EMA at 177.03 and the 50-day EMA at 178.37 within a descending channel, pointing to persistent downside risk. RSI around 46 leaves room for further corrective pressure toward the 12-month low of 175.07 and channel support near 173.60. Today's heat map confirms the euro is the weakest against the yen (-0.21%).
The EUR/JPY cross extended its losses for a second consecutive day, trading near 176.90 as it remains trapped within a descending channel. The pair is currently capped below both the nine-day and 50-day EMAs, signaling continued downside risk for the euro against the yen.
It has lost ground for two straight days, trading near 176.90 while staying below its nine-day EMA of 177.03 and 50-day EMA of 178.37 inside a descending channel, which suggests continued bearish momentum.
Downside targets are 175.07 (the 12-month low reached October 30), then about 173.60 at the channel lower boundary, with 169.72 the 15-month low if the channel breaks. Upside resistance starts at 177.03, then 178.20 and 178.37.