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Forex

EUR/JPY Dives Amid Bearish Bias

Guavy AI Editorial Team
Instruments
EUR JPY
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The EUR/JPY currency cross is currently trading around 178.50 after rebounding from its descending channel bottom.

According to technical analysis, the cross remains within a bearish bias due to its position beneath both the nine- and 50-period Exponential Moving Averages (EMAs).

The Relative Strength Index (RSI) is currently in oversold territory at 26.98, hinting that the sell-off could start to lose momentum if buyers attempt to defend nearby structural levels.

If the EUR/JPY cross breaks below its descending channel, it may test support at 177.70 and potentially navigate towards the 10-month low of 175.70 recorded in November 2025.

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