EUR/JPY extended its losses for a second straight day, hovering near 180.10 during Asian trading hours on Wednesday, according to FX Street. The currency pair remains under pressure as it trades within a descending channel, reflecting a sustained bearish bias.
The pair is struggling to break above the nine-day exponential moving average, indicating that sellers continue to dominate the market. This technical setup points to further downside risks in the near term if the current trend persists.
For Japanese investors, the ongoing weakness in EUR/JPY highlights cautious sentiment toward the euro amid global uncertainties, which may influence portfolio adjustments in FX and equities markets.