EUR/JPY Trapped in Bearish Channel Near 180.00

The EUR/JPY currency pair remains stuck near 180.00, still trapped within a bearish channel that has been in play since it traded around 179.70 on Monday.

Despite some modest losses in the previous session, price action continued to trade below both the nine-day EMA at 177.88 and the 50-day EMA at 182.17, with momentum indicators suggesting weak but stabilizing momentum.

The Relative Strength Index (RSI) stood at 41.43, below the neutral 50 mark, reinforcing a negative near-term bias for the pair.

Looking ahead, key downside levels include the channel floor near 177.00 and the 11-month low of 175.70, while resistance stands at the 50-day EMA, the channel top around 184.60, and the all-time high at 187.95.