Key Moments
- EUR/JPY traded near 186.70 during Asian hours on Monday after modest gains in the prior session.
- The pair is trading within an ascending channel above its nine-day and 50-day EMAs, with the 14-day RSI around 60.
- Key downside levels include the nine-day EMA at 186.75 and the 50-day EMA at 184.94 if the channel support at 186.60 fails.
EUR/JPY Technical Setup
EUR/JPY edged lower in Asian trading on Monday, hovering around 186.70 after posting modest gains the previous day. A review of the daily chart shows the cross remaining within an ascending channel, indicating that the broader technical structure continues to favor the upside.
The pair is consolidating above both the nine-day and 50-day Exponential Moving Averages (EMAs), reinforcing a constructive short-term outlook. Price action is holding just beneath recent peaks, while the 14-day Relative Strength Index (RSI) sits near 60, pointing to positive momentum that has not yet reached overextended territory. This configuration suggests that pullbacks have so far been limited and that the potential for another leg higher remains in place.
Upside Targets and Resistance Zones
From a resistance perspective, EUR/JPY may move toward the all-time high at 187.95, which was set on April 17. A clear break above that barrier would open the way for a test of the upper boundary of the ascending channel, located around 189.70. A move into that zone would mark a further extension of the current bullish phase, as defined by the existing channel structure and sustained trade above key moving averages.
Support Levels and Risk to the Downside
On the downside, immediate technical support is seen at the nine-day EMA, currently at 186.75. This area aligns closely with the lower boundary of the ascending channel near 186.60, making it an important short-term pivot. A decisive move below the channel floor would signal a deterioration in the prevailing bullish bias and could shift focus toward deeper retracement levels.
If the channel breaks to the downside and selling pressure persists, the next key area to watch would be the 50-day EMA at 184.94. A test of this level would represent a more pronounced correction within the broader uptrend signaled by the current chart configuration.
Euro Performance Against Major Currencies
The following table shows the daily percentage change of the Euro (EUR) against a selection of major currencies. Over this period, the Euro showed its strongest relative performance versus the US Dollar.
| USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | -0.06% | -0.07% | -0.10% | -0.03% | -0.30% | -0.17% | -0.02% | |
| EUR | 0.06% | 0.02% | -0.04% | 0.03% | -0.22% | -0.09% | 0.04% | |
| GBP | 0.07% | -0.02% | -0.04% | 0.02% | -0.22% | -0.09% | 0.04% | |
| JPY | 0.10% | 0.04% | 0.04% | 0.08% | -0.20% | -0.09% | 0.11% | |
| CAD | 0.03% | -0.03% | -0.02% | -0.08% | -0.27% | -0.16% | 0.01% | |
| AUD | 0.30% | 0.22% | 0.22% | 0.20% | 0.27% | 0.14% | 0.28% | |
| NZD | 0.17% | 0.09% | 0.09% | 0.09% | 0.16% | -0.14% | 0.15% | |
| CHF | 0.02% | -0.04% | -0.04% | -0.11% | -0.01% | -0.28% | -0.15% |
The heat map indicates how each currency performed against the others. The currency listed on the left side of the table serves as the base, while the currency listed at the top is the quote. For instance, choosing the Euro in the left column and moving horizontally to the US Dollar shows the percentage change for EUR (base)/USD (quote).
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