Forex
EUR/JPY Bears Grip Near 182.50 Amid Global Uncertainty
The EUR/JPY currency pair is currently trading near the 182.50 level, reflecting a bearish bias in the market.
This downward momentum is driven by a combination of fundamental and technical factors, including concerns over slowing growth in the euro area and safe-haven demand for the Japanese yen amid global uncertainties.
From a technical perspective, the pair has repeatedly failed to break above key resistance levels, with the Relative Strength Index (RSI) hovering below the neutral 50 mark and the Moving Average Convergence Divergence (MACD) indicator in negative territory.