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Published: 2 October 2026,03:05
Chart The Market
EUR/JPY briefly broke above its previous descending channel, but the breakout proved unsustainable. The pair subsequently fell below immediate support at 178.00, signalling that sellers remain firmly in control and that the broader bearish structure is still intact.
The latest price action saw EUR/JPY retest the former 178.00 support level from below before turning lower once again. This rejection suggests that the level has shifted into resistance, reinforcing the bearish continuation signal.
As long as the pair remains below 178.00, the near-term outlook is likely to stay tilted to the downside. A sustained recovery above this threshold would be required to ease selling pressure and revive the prospect of a bullish reversal; otherwise, further weakness remains the more probable scenario.
Resistance Levels:178.05, 179.90
Support Levels:176.15, 174.50
Silver remains under pressure after a sharp selloff pushed the metal to its lowest level since early August. However, prices have since begun consolidating near the recent low, suggesting that downside momentum is moderating and that sellers may be losing some control.
Momentum indicators support this view. The Relative Strength Index has recovered above oversold territory, pointing to an improvement in near-term sentiment, while the MACD has registered a bullish crossover at depressed levels and is now advancing toward the zero line. Together, these signals indicate that bearish momentum is easing, although they have yet to confirm a full trend reversal.
Immediate resistance is located at $61.45. A decisive break and sustained close above this level would strengthen the recovery outlook and could provide an early signal of a bullish trend reversal. Conversely, a rejection from $61.45 would suggest that the rebound remains corrective and leave silver vulnerable to renewed selling pressure.
ResistanceLevels: 61.45, 65.30
Support Levels: 56.70, 52.80
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