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.

Akhtar Faruqui FXStreet

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.

AUD/USD hangs close to monthly lows, still defends 0.7100 ahead of Fed decision

AUD/USD retains its negative bias for the third straight day, defending 0.7100 while trading close to a monthly low in Wednesday's Asian session on Wednesday. The US Dollar stands firm near a two-week high as the anticipated Fed rate hike and oil-driven inflation fears continue to push US bond yields to a multi-year high. Furthermore, escalating Middle East tensions benefit the safe-haven buck and weigh on the risk-sensitive Aussie.

USD/JPY holds firm above 155.00, awaits the key Fed verdict

USD/JPY climbs to a fresh one-week high above 155.00 in the Asian session on Wednesday amid a bullish US Dollar. Oil-driven inflation fears, along with the anticipated Fed rate hike, continue to support surging US bond yields. Moreover, rising US-Iran tensions underpin the USD's reserve currency status. The pair, however, remains below the mid-155.00s as bulls seem hesitant ahead of the Fed decision later today and the BoJ meeting, starting on Thursday.

Gold struggles below $4,300 as Fed decision looms

Gold remains depressed below $4,300 in the Asian session on Wednesday as traders look to the crucial Fed decision for a fresh impetus. Meanwhile, a surge in US bond yields, bolstered by oil-driven inflation fears, continues to weigh on the non-yielding bullion. Furthermore, escalating Middle East tensions underpin the safe-haven US Dollar and act as a headwind for XAU/USD.

Ethereum continues to attract capital despite impending rate hike and Clarity Act failure

Ethereum declined to $2,400 on Tuesday after the Clarity Act failed to progress in the Senate. Despite that and the market's near certainty of an interest rate hike at the next Federal Reserve (Fed) meeting, the top altcoin has continued to attract fresh capital. Ethereum buyers have been dominating sellers over the past few days.

August UK inflation report expected to show rising inflation

The United Kingdom Office for National Statistics will publish the highly anticipated Consumer Price Index data for August on Wednesday at 06:00 GMT. The inflation report could trigger volatility in the British Pound, as it comes just one day before the Bank of England monetary policy decision.

Venezuela’s 65-billion-barrel Oil deal could reshape America’s inflation fight

The United States (US) has secured unprecedented access to part of Venezuela’s vast Oil reserves. The timing is particularly significant as the war with Iran is disrupting Middle Eastern supplies, keeping energy prices elevated and reviving concerns about inflation.