The EUR/JPY currency pair faces ongoing bearish pressure, trading in the mid-163.00s during the Asian session on Thursday. Recent fluctuations have created uncertainty across the trading floor. Currently, the pair is down by 0.20% for the day, indicating the strength of selling pressure. Market analysts suggest that staying below the 200-period SMA could limit the potential for any significant price recovery. With external factors potentially leading to increased volatility, traders need to strategize accordingly. The current environment emphasizes the importance of technical analysis and situational awareness. As the situation unfolds, participants should remain cautious, ready to adjust strategies based on evolving trends.