The EUR/JPY currency pair halted its two-day winning streak, trading around 163.30 during the Asian hours on Wednesday. A decline below the lower boundary of the ascending channel indicates weakening bullish momentum, according to daily technical analysis. Traders should be cautious as this suggests further bearish action may be on the horizon. Keeping track of critical support levels and potential reversals will be essential for managing trades in this currency pair. Stay informed about further developments as the market evolves.