The Tradingview TRUMP coinEUR/JPY cross extends losses amid sustained bearish pressure, with the daily chart highlighting a clear downtrend within a descending channel.
Oversold conditions may trigger a short-term rebound if the 14-day RSI dips below 30, though the broader trend remains downward.
Critical support lies near 159.00, with a break below potentially accelerating losses toward September's two-month low of 158.10.
EUR/JPY has extended its decline for the second consecutive session, hovering around 159.60 during Wednesday's Asian trading hours. The daily chart reveals the pair's persistent downtrend, confined within a descending channel that underscores the prevailing bearish sentiment.
The 14-day Relative Strength Index (RSI) currently sits just below the 30 threshold, reinforcing the negative outlook for EUR/JPY. While a dip beneath this level might signal oversold conditions and prompt a corrective bounce, the overall technical structure favors continued downside pressure.
Key support emerges at the psychological 159.00 level, coinciding with the descending channel's lower boundary. A decisive break below this zone could open the door to test September's low of 158.10, with potential for further declines toward the 11-month bottom at 154.41 recorded in December 2023.
On the resistance front, the pair faces immediate hurdles at the nine-day EMA near 161.80, followed by the more significant 14-day EMA at 162.43. A sustained move above these levels would be required to signal any meaningful trend reversal, potentially allowing for a retest of October's four-month peak at 166.69.
The current technical setup suggests traders should monitor the 159.00 support closely, as its breach could confirm extended bearish momentum. Meanwhile, any recovery attempts would need to overcome multiple resistance levels to alter the prevailing downward trajectory.
EUR/JPY: Technical Snapshot
Euro Performance Overview
The following table illustrates the Euro's percentage changes against major currencies, showing particular weakness against the New Zealand Dollar in recent trading.
| USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | 0.02% | -0.10% | -0.46% | 0.05% | -0.21% | -0.61% | -0.14% | |
| EUR | -0.02% | -0.13% | -0.46% | 0.02% | -0.24% | -0.64% | -0.14% | |
| GBP | 0.10% | 0.13% | -0.36% | 0.15% | -0.11% | -0.50% | -0.04% | |
| JPY | 0.46% | 0.46% | 0.36% | 0.49% | 0.23% | -0.17% | 0.31% | |
| CAD | -0.05% | -0.02% | -0.15% | -0.49% | -0.26% | -0.68% | -0.18% | |
| AUD | 0.21% | 0.24% | 0.11% | -0.23% | 0.26% | -0.40% | 0.09% | |
| NZD | 0.61% | 0.64% | 0.50% | 0.17% | 0.68% | 0.40% | 0.47% | |
| CHF | 0.14% | 0.14% | 0.04% | -0.31% | 0.18% | -0.09% | -0.47% |
This heat map displays percentage changes between major currency pairs. Select a base currency from the left column and compare it against quote currencies along the top row to see their relative performance.
