Will eurjpy continue down

The EUR/JPY pair is not likely to continue down in the next 30 minutes. Here's the analysis to support this conclusion:

1. Current Momentum: The 1-minute and 5-minute percentage changes are currently showing as 0, indicating a lack of recent momentum in either direction. This lack of movement suggests that the pair is in a consolidation phase rather than experiencing a strong downtrend.
2. Moving Averages: The 10-day and 20-day moving averages are also showing as 0, which means that the short-term and medium-term trends are not currently providing any directional bias. This absence of a clear trend suggests that the pair is stabilizing rather than trending downwards.
3. Resistance and Support Levels: The immediate resistance level for the EUR/JPY pair is at 161.80, and the first support level is at 158.10. The proximity to these levels suggests that the pair has limited room to move down without a significant catalyst.
4. Market Sentiment: The Relative Strength Index (RSI) is below the midline near 45.80, suggesting that there could still be room for further downward movement in the near term. However, the RSI is not in the oversold territory, indicating that the downside momentum is not very strong.
5. Recent News and Events: The risk-aversion across global markets has provided some support to the safe-haven asset like the Japanese Yen (JPY), which has put pressure on the EUR/JPY cross to hold below the key 100-day Exponential Moving Averages (EMA). However, the overall outlook remains bearish, but the immediate prospects do not indicate a strong downward movement.

In conclusion, while the long-term outlook for the EUR/JPY pair remains bearish, the short-term indicators and current market sentiment suggest that the pair is more likely to consolidate or potentially move up in the next 30 minutes rather than continuing down.