EUR/JPY traded near 177.40 during Asian trading hours on Friday, marking gains for the second consecutive day, according to FX Street. The currency pair is showing modest upward momentum despite its broader downward trend.
FX Street noted that EUR/JPY remains within a descending channel pattern, indicating that the overall bearish bias persists. The pair continues to hover around the nine-day exponential moving average (EMA), which may act as a short-term technical reference point for traders.
This movement comes as Japanese investors remain cautious ahead of upcoming economic data, with the yen's performance closely watched amid ongoing global market volatility.