EUR/JPY Price Forecast: Remains close to 186.00 near descending channel top
- EUR/JPY eyes the upper boundary of the descending channel pattern around 186.20.
- The 14-day Relative Strength Index near 56 remains positive, showing steady momentum without entering overbought territory.
- The primary support appears at the nine-day EMA at 185.60.
EUR/JPY moves little after posting modest gains in the previous day, trading around 185.80 during the Asian hours on Friday. The EUR/JPY cross is holding a constructive bullish bias as it remains above both the nine-day and 50-day Exponential Moving Averages (EMAs). The alignment of the shorter nine-day EMA above the 50-day EMA hints at a still-supportive trend backdrop.
The 14-day Relative Strength Index (RSI) near 56 stays in positive territory without entering overbought conditions, suggesting upside momentum is intact but not overstretched.
The technical analysis of the daily chart suggests the currency cross remains near the upper boundary of the descending channel pattern around 186.20. The sustained break above the channel would indicate bullish confirmation. Further advance would support the EUR/JPY cross to explore the region around the all-time high of 187.95, recorded on April 17.
On the downside, the primary support lies at the nine-day EMA at 185.60, followed by the 50-day EMA of 185.10. Further declines below moving averages would cause the bearish reversal and put downward pressure on the EUR/JPY cross to navigate the region around the three-month low of 181.87, recorded on March 16, followed by the nearly six-month low of 180.81, reached on February 12.
(The technical analysis of this story was written with the help of an AI tool.)
Euro Price Today
The table below shows the percentage change of Euro (EUR) against listed major currencies today. Euro was the strongest against the Australian Dollar.
| USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | -0.04% | -0.02% | -0.05% | -0.03% | 0.16% | 0.10% | -0.05% | |
| EUR | 0.04% | 0.00% | -0.02% | 0.00% | 0.20% | 0.14% | -0.01% | |
| GBP | 0.02% | 0.00% | -0.04% | -0.04% | 0.17% | 0.11% | -0.03% | |
| JPY | 0.05% | 0.02% | 0.04% | 0.01% | 0.20% | 0.14% | -0.01% | |
| CAD | 0.03% | 0.00% | 0.04% | -0.01% | 0.18% | 0.13% | -0.01% | |
| AUD | -0.16% | -0.20% | -0.17% | -0.20% | -0.18% | -0.06% | -0.21% | |
| NZD | -0.10% | -0.14% | -0.11% | -0.14% | -0.13% | 0.06% | -0.15% | |
| CHF | 0.05% | 0.00% | 0.03% | 0.00% | 0.01% | 0.21% | 0.15% |
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.
