EUR/JPY continues to trade under pressure near the 183.90 level after trimming earlier losses, signaling a potential continuation of the bearish trend.
Technical analysis shows that the pair remains below both the 50-day and 9-day Exponential Moving Averages (EMAs), confirming short-term weakness. In addition, the 14-day Relative Strength Index (RSI) stands at 38.75, indicating bearish momentum and suggesting that any upward movement may face strong resistance.
On the downside, the first key support level is located at 181.87, which marks the recent 10-week low. A break below this level could push the price further down toward 180.81, a significant multi-month support zone. On the upside, resistance is seen at 184.98. A sustained move above this level could shift momentum and open the path toward higher levels.
Overall, EUR/JPY remains bearish unless price breaks and holds above the resistance zone.
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