EUR/JPY Price Forecast: Holds above 176.50 near nine-day EMA
EUR/JPY inches lower after posting modest gains in the previous day, trading around 176.70 during Asian hours on Tuesday. The technical analysis of the daily chart suggests that the currency cross is remaining within a descending channel pattern, indicating a prevailing bearish bias.
Silver (XAG/USD) experiences renewed selling pressure on Tuesday, reversing Monday's recovery gains and nearing its lowest level since November 2025. The metal trades just above the $49.00 mark, down 2.75% for the day. From a technical standpoint, XAG/USD remains below the 100-hour Exponential Moving Average (EMA) at $51.40, with the Moving Average Convergence Divergence (MACD) slipping into negative territory and the Relative Strength Index (RSI) hovering around 28, indicating oversold conditions.
Bearish traders may wait for a sustained break below the $49.00 level before placing fresh bets and positioning for further downtrend extension. If the metal recovers and clears the $50.00 psychological barrier, a short-covering rally could follow, potentially lifting XAG/USD beyond the $50.35 intermediate hurdle toward the $51.00 mark.
The 100-hour EMA at $51.40 acts as a key resistance level, and a reclaim would ease bearish pressure, opening the door to a more sustained recovery. Silver, a precious metal used as a store of value and hedge during inflation, is influenced by factors like geopolitical events, interest rates, USD strength, and industrial demand.
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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