The EUR/JPY pair saw a decline to 168.43 for the second day in a row, as political uncertainty in France weighed on the market. This drop was attributed to the lowest presidential approval ratings in five years ahead of the General Elections. The technical outlook suggests that if the price falls below the 50-day moving average at 167.47, there could be further losses. Key support levels to watch for include the Kumo bottom at 165.92 and the 100-day moving average at 164.78. The Euro’s struggles against the Japanese Yen are evident, with potential for a downtrend if certain levels are breached. The RSI indicates that sellers are gaining momentum, signaling a possible decline in the EUR/JPY pair. The daily chart also reflects the ongoing price action, highlighting the current market trends.
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