The EUR/JPY currency pair fell for the second day in a row, trading near 178.40 during Asian hours on Tuesday, according to FX Street. This continuation of downward momentum reflects ongoing selling pressure in the cross.
FX Street noted that EUR/JPY remains confined within a descending channel pattern, reinforcing a bearish technical outlook. The pattern suggests that the pair could face further downside unless it breaks above the channel resistance.
For Japanese investors, the sustained weakness in EUR/JPY adds to the cautious sentiment amid broader market volatility and the Bank of Japan’s ongoing monetary policy considerations.