EUR/JPY Loses Momentum Near 162.75 during Early European Trading Hours
Tuesday, 2 April 2024, 07:13
EUR/JPY Price Analysis
The EUR/JPY cross is experiencing a decline below 163.00, with the price hovering near 162.75 during the early European trading hours on Tuesday. The pair is struggling to maintain its bullish momentum and may face further downward pressure in the upcoming sessions.
Key Points:
- 163.00 Support Level: The pair is currently testing the critical support at 163.00, a break below which could pave the way for extended losses.
- Weakening Momentum: The weakening momentum suggests that EUR/JPY might continue its decline in the near term.
EUR/JPY is poised for a potential bearish movement if it fails to hold above 163.00 in the short run.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.