EUR/JPY Under Pressure as Sellers Maintain Control Amidst Bearish Signals

The EUR/JPY currency pair is under pressure as sellers maintain control amidst bearish signals.

The pair has slipped below its major moving averages, including the 20-day (¥179.88), 50-day (¥182.47), and 200-day (¥184.17) averages, indicating sustained bearish trends across all timeframes.

Momentum indicators reveal persistent selling pressure, with the MACD and ADX both signaling a 'sell' outlook, confirming the bearish tone. However, some intraday measures show overbought conditions and signal exhaustion risks.

The pair trades near ¥179.82, down 0.54% on the day, having opened nearly flat, with an expected five-day range of ¥178.92 to ¥180.72 and a 60% probability of further decline.