Key Moments
- EUR/JPY traded around 183.90 during Asian hours on Monday after trimming earlier losses.
- Bearish momentum persisted, with the 14-day RSI at 38.75 and spot remaining below the 50-day and nine-day EMAs.
- Key downside levels were identified at 181.87 and 180.81, while resistance sat around the 50-day EMA at 184.98 and nine-day EMA at 185.44.
Bearish Bias Persists Below Key Moving Averages
EUR/JPY was trading close to 183.90 during the Asian session on Monday, holding onto earlier losses despite a modest intraday recovery. The daily chart technical setup indicated that the cross retained a negative near-term outlook, as prices continued to trade beneath both the 50-day and nine-day Exponential Moving Averages (EMAs).
The pullback from recent highs has been reinforced by momentum indicators. The 14-day Relative Strength Index (RSI) stood at 38.75, leaning toward bearish conditions. This configuration suggested that attempts to rally could face headwinds while the pair remains constrained below the cluster of overhead moving averages.
Key Support Levels in Focus
On the downside, attention was centered on notable support areas. The first significant zone was around 181.87, identified as a 10-week low that was registered on March 16. A break of this level could open the way toward a deeper pullback.
Below that, the next important area was near 180.81, which marked a nearly five-month low reached on February 12. These levels were seen as critical reference points for traders monitoring the strength or weakness of the current bearish phase in EUR/JPY.
Resistance Levels and Potential Upside Scenario
On the upside, the primary resistance level was located at the 50-day EMA, positioned at 184.98. A move through this barrier could bring the nine-day EMA at 185.44 into focus as the next resistance.
A sustained break above both the medium-term and short-term EMAs would be required to shift the bias back in favor of the bulls. Such a move would open the door for the cross to revisit the area around the all-time high at 187.95, which was recorded on April 17.
EUR/JPY – Daily Chart Context
A daily chart view underscored the current technical backdrop, with price action holding below the key EMAs and momentum indicators skewed to the downside. These elements together framed a cautious environment for any attempts at sustained upside.
Euro Performance Against Major Currencies
The following table shows the percentage change of the Euro (EUR) against major currencies today. According to the data, the Euro was the weakest versus the New Zealand Dollar.
| USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | -0.09% | -0.10% | -0.19% | 0.00% | -0.07% | -0.31% | -0.11% | |
| EUR | 0.09% | -0.05% | -0.11% | 0.09% | 0.02% | -0.23% | -0.04% | |
| GBP | 0.10% | 0.05% | -0.06% | 0.15% | 0.07% | -0.20% | 0.02% | |
| JPY | 0.19% | 0.11% | 0.06% | 0.18% | 0.07% | -0.16% | 0.02% | |
| CAD | -0.00% | -0.09% | -0.15% | -0.18% | -0.10% | -0.34% | -0.13% | |
| AUD | 0.07% | -0.02% | -0.07% | -0.07% | 0.10% | -0.28% | -0.06% | |
| NZD | 0.31% | 0.23% | 0.20% | 0.16% | 0.34% | 0.28% | 0.21% | |
| CHF | 0.11% | 0.04% | -0.02% | -0.02% | 0.13% | 0.06% | -0.21% |
The heat map above reflects the percentage changes between major currencies. The base currency is taken from the left-hand column, and the quote currency is read from the top row. For instance, selecting the Euro from the left column and moving horizontally to the US Dollar cell shows the performance of EUR (base) against USD (quote).
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