EUR/JPY trades higher for the second successive day, hovering around 162.70 during Monday’s Asian trading session.
The EUR/JPY cross tests the lower boundary of the ascending channel, suggesting a potential for weakening bullish bias. The bearish outlook seems possible as the 14-day RSI remains below the 50 mark. The primary barrier appears at the nine-day EMA at 161.31 level. Technical analysis of the daily chart indicates that the currency cross testing the lower boundary of the ascending channel, suggesting a potential for weakening bullish bias.
A break above these levels would improve the short-term price momentum and support the currency cross to approach its two-month high at the 164.90 level. A further resistance zone appears around its six-month high of 166.69, a level last seen in October 2024, followed by the psychological level at 167.00, aligned with the upper boundary of the ascending channel. EUR/JPY: Daily Chart Euro PRICE Today The table below shows the percentage change of Euro against listed major currencies today.
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