EUR/JPY Price Forecast: Holds ground above 179.00 within oversold territory
- EUR/JPY may find initial support at the descending channel bottom near 177.60.
- The 14-day Relative Strength Index around 34 hints at lingering downside pressure.
- The initial barrier is the nine-day EMA at 179.69.
EUR/JPY gains ground for the third successive day, trading around 179.10 during Asian hours on Wednesday. Technical analysis of the daily chart shows the currency cross trading within a descending channel, keeping the overall bias bearish.
The EUR/JPY cross is keeping a bearish near-term bias as price holds below both the nine-day and 50-day Exponential Moving Averages (EMAs). This configuration suggests rallies are likely to face supply, while the 14-day Relative Strength Index (RSI) around 34 hints at lingering downside pressure but not yet an extreme oversold condition.
The EUR/JPY cross may fall toward the primary support at the lower boundary of the descending channel around 177.60. A break below the channel would strengthen the bearish bias and put downward pressure on the cross as it navigates toward nearly an 11-month low of 175.70, recorded in November 2025.
On the upside, the EUR/JPY cross could target the nine-day EMA of 179.69, followed by the 50-day EMA of 183.00. Further resistance lies at the upper boundary of the descending channel around 185.20, followed by the all-time high of 187.95 set on April 17.
(The technical analysis of this story was written with the help of an AI tool. Know more.)
Euro Price Today
The table below shows the percentage change of Euro (EUR) against listed major currencies today. Euro was the strongest against the New Zealand Dollar.
| USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | 0.09% | 0.08% | 0.20% | 0.11% | 0.14% | 0.34% | 0.10% | |
| EUR | -0.09% | -0.01% | 0.14% | 0.04% | 0.03% | 0.26% | 0.03% | |
| GBP | -0.08% | 0.01% | 0.15% | 0.04% | 0.04% | 0.28% | 0.03% | |
| JPY | -0.20% | -0.14% | -0.15% | -0.10% | -0.08% | 0.15% | -0.11% | |
| CAD | -0.11% | -0.04% | -0.04% | 0.10% | 0.02% | 0.24% | -0.02% | |
| AUD | -0.14% | -0.03% | -0.04% | 0.08% | -0.02% | 0.23% | -0.05% | |
| NZD | -0.34% | -0.26% | -0.28% | -0.15% | -0.24% | -0.23% | -0.24% | |
| CHF | -0.10% | -0.03% | -0.03% | 0.11% | 0.02% | 0.05% | 0.24% |
The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the Euro from the left column and move along the horizontal line to the US Dollar, the percentage change displayed in the box will represent EUR (base)/USD (quote).
Author
Akhtar Faruqui
FXStreet
Akhtar Faruqui is a Forex Analyst based in New Delhi, India. With a keen eye for market trends and a passion for dissecting complex financial dynamics, he is dedicated to delivering accurate and insightful Forex news and analysis.
