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Forex

EUR/JPY Traders Eye Resistance Near 180.00 Amid Descending Channel

Guavy AI Editorial Team
Instruments
EUR USD JPY
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The EUR/JPY currency cross is trading around 179.70 during Asian hours on Monday, after registering modest losses the previous day.

Technical analysis of the daily chart indicates that the EUR/JPY remains within a descending channel pattern, pointing to a persistent bearish outlook.

Strategists at Scotiabank highlight that the Japanese Yen is leading G10 gains against the US Dollar, noting that 'JPY is outperforming on verbal intervention & FX comments from both PM Takaichi & FinMin Katayama.'

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