EUR/JPY loses momentum at 177.70, ending a four-day winning streak as technical patterns suggest continued downward pressure within a descending channel.
Technical analysis shows EUR/JPY in a descending channel, indicating ongoing bearish bias.
The EUR/JPY currency pair retreated to 177.70 during Tuesday's Asian trading session, snapping a four-day rally. Technical indicators confirm the pair remains trapped within a descending channel, reinforcing a bearish outlook for the near term.
The pair maintains a bearish bias as it continues to trade within a descending channel pattern on the daily chart.