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EUR/JPY slips below 179.00 amid bearish technical bias

The pair was last around 178.8 in Asian trading, with spot still below the nine- and 50-day EMAs.

Reported · Written up by our desk · Major Pairs

EUR/JPY stayed subdued for a third straight day, trading around 178.8 during Asian hours on Tuesday, according to FXStreet.

The outlet’s technical read says the pair remains trapped in a descending channel and is holding below both the nine- and 50-period EMAs, a setup it says caps upside in the near term.

FXStreet also points to the 14-day RSI at 35.9, just above oversold territory, suggesting selling pressure is still dominant but may be easing.

For potential moves, the analysis flags downside toward the lower channel boundary near 176.9 and an 11-month low around 175.7, while resistance could appear near the nine-day EMA around 179.6 and the channel’s upper boundary near 184.5.

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