Key Moments
- EUR/JPY has been trading around 187.10, staying within an ascending channel that reflects a prevailing bullish structure.
- The pair faces initial resistance at the all-time high of 187.95, with further upside potential toward the upper channel boundary near 188.90.
- Key support is seen at the nine-day EMA at 186.83, with additional downside risk toward the 50-day EMA at 184.73 if the channel breaks.
Technical Outlook: Bullish Structure Remains in Place
EUR/JPY has been relatively muted for a second consecutive session, trading close to 187.10 during Asian hours on Wednesday. The daily chart shows the cross moving within an ascending channel, highlighting a continued constructive technical picture.
The short-term setup remains positive as the cross continues to consolidate above both the nine-day and 50-day Exponential Moving Averages (EMAs). The shorter EMA is positioned above the longer EMA, reinforcing the bullish near-term bias. At the same time, the 14-day Relative Strength Index is hovering near 63, indicating that buyers still dominate, even as price action pauses just below recent highs.
Upside Levels: All-Time High and Channel Resistance
On the topside, EUR/JPY may encounter its first significant barrier at the all-time high of 187.95, which was reached on April 17. A clear move beyond that level could encourage further gains toward the upper boundary of the rising channel, located around 188.90.
Downside Risks: EMAs and Channel Support
On the downside, initial support is seen at the nine-day EMA at 186.83. Below that, the lower edge of the ascending channel, around 186.50, offers another key area of technical interest. A decisive break beneath this channel support would bring the 50-day EMA at 184.73 into focus as the next potential target.
EUR/JPY – Daily Chart Reference
EUR/JPY: Daily Chart
(The technical analysis of this story was written with the help of an AI tool.)
Euro Performance Against Major Currencies
The table below presents the percentage change of the Euro (EUR) against a selection of major currencies today. According to this snapshot, the Euro has been weakest versus the New Zealand Dollar.
| USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | — | 0.02% | 0.01% | -0.02% | -0.03% | -0.07% | -0.20% | 0.00% |
| EUR | -0.02% | — | -0.00% | -0.02% | -0.03% | -0.09% | -0.22% | -0.02% |
| GBP | -0.01% | 0.00% | — | -0.02% | -0.02% | -0.08% | -0.20% | -0.02% |
| JPY | 0.02% | 0.02% | 0.02% | — | -0.02% | -0.05% | -0.19% | -0.01% |
| CAD | 0.03% | 0.03% | 0.02% | 0.02% | — | -0.03% | -0.16% | 0.02% |
| AUD | 0.07% | 0.09% | 0.08% | 0.05% | 0.03% | — | -0.14% | 0.04% |
| NZD | 0.20% | 0.22% | 0.20% | 0.19% | 0.16% | 0.14% | — | 0.19% |
| CHF | -0.00% | 0.02% | 0.02% | 0.01% | -0.02% | -0.04% | -0.19% | — |
The heat map illustrates how major currencies have moved relative to each other. The base currency is taken from the left-hand column, and the quote currency from the top row. For instance, selecting the Euro from the left column and moving horizontally to the US Dollar cell shows the percentage change for EUR (base)/USD (quote).
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