EUR/JPY Extends Gains Amid Bearish Bias

The EUR/JPY currency cross is extending its gains for the third consecutive day, trading around 180.60 during Asian hours on Tuesday.

According to technical analysis, the currency cross remains within a descending channel, suggesting a persistent bearish bias.

Currently, the 14-day Relative Strength Index (RSI) sits at 44.44, just under the neutral 50 mark, indicating subdued upside momentum rather than outright oversold conditions.

The EUR/JPY cross may find primary support at the nine-day EMA of 179.98 and is likely to break below this short-term price average if it falls.