EUR/JPY Price Forecast: Eyes nine-day EMA barrier near 180.00
EUR/JPY gains ground after registering modest losses the previous day, trading around 179.70 during Asian hours on Monday. Technical analysis of the daily chart shows that the currency cross continues to trade within a descending channel pattern, pointing to a persistent bearish outlook.
EUR/JPY maintains a bearish outlook, hovering near the 180.00 level, as technical indicators point to a potential break above the nine-day EMA. The nine-day EMA currently sits at 180.00, while the 50-day EMA is at 182.17. A successful breach of the 180.00 EMA could signal a bullish reversal, with further upside potential towards the 50-day EMA.
The Japanese Yen is currently leading G10 gains against the US Dollar, with Japanese political leaders expressing concerns over a weak Yen, providing support to the currency. The 14-day RSI at 41.43 indicates weak but stabilizing momentum after a recent pullback.
Written by urgent.news from FXStreet's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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