The currency pair falls for a third day, trading near 179.40 amid technical indicators signaling sustained bearish pressure.
EUR/JPY declined below 179.50 in early Asian trading, extending losses for a third consecutive session. The cross remains under pressure as it holds below both the nine-period and 50-period Exponential Moving Averages (EMAs), reinforcing a bearish outlook.
The short-term EMA continues to trade below the longer 50-period EMA, while the 14-day Relative Strength Index (RSI) at 27.71 indicates oversold conditions. Support is seen at the August 3 low of 179.37, with further downside potential toward 175.70. Resistance levels are marked at 184.07 and 185.02.
Technical indicators suggest sellers remain in control, though the pace of decline may moderate due to oversold conditions.