EUR/JPY Holds Bearish Momentum Below Key EMAs at 179.40

EUR/JPY traded around 179.40 on Monday, holding below key moving averages and extending a bearish near-term trend for the third day, according to FX Street.

EUR/JPY traded near 179.40 during Asian trading hours on Monday, continuing a bearish tone in the short term. The pair remained below both the nine-period and 50-period exponential moving averages (EMAs), signaling persistent downward pressure, according to FX Street.

This marks the third consecutive day that EUR/JPY has extended its gains yet stayed beneath these critical technical levels, suggesting cautious market sentiment despite the recent uptick. FX Street highlighted the pair's inability to break above these moving averages as a key factor maintaining the bearish momentum.

For Japanese investors, monitoring EUR/JPY's movement around these technical thresholds is crucial as it may influence cross-border trade flows and impact the equity market sentiment amid ongoing global economic uncertainties.

#newsroom

執筆: Sama Kane