Key Moments:
- EUR/JPY trades around 184.70 during Asian hours, staying flat for a second straight session
- Pair tests confluence resistance around the nine-day EMA at 184.76 while RSI near 47 signals consolidative price action
- Failure to break the descending wedge keeps downside risk open toward 181.87 and potentially 180.81
Technical Setup Around 185.00
EUR/JPY is little changed for a second consecutive day, hovering near 184.70 during Asian trading on Friday. On the daily chart, the cross is trading along the upper edge of a developing descending wedge formation, a structure that typically signals the potential for a bullish reversal if price breaks higher.
Despite that constructive pattern, EUR/JPY continues to trade below both the nine-period and 50-period Exponential Moving Averages (EMAs), which is limiting near-term upside even as the broader trend remains positive. The 14-day Relative Strength Index (RSI) is positioned around 47, indicating neutral momentum and implying that the recent decline appears more like a consolidation phase than a sharp, directional selloff at this stage.
Key Resistance and Upside Targets
Immediate resistance is clustered near a confluence zone around the nine-day EMA at 184.76. Above that, the 50-day EMA at 184.85 and the upper boundary of the descending wedge mark the next technical barriers. A decisive move through this entire resistance band would reinforce bullish prospects and open the way for EUR/JPY to retest the region around the all-time high at 187.95, last seen on April 17.
Downside Risks if Wedge Holds
If buyers fail to achieve a breakout above the descending wedge, the pattern would instead favor renewed downside pressure. In that scenario, EUR/JPY could drift back toward the three-month low at 181.87, which was registered on March 16. Further weakness below that level would bring the five-month low at 180.81, recorded on February 12, into view as the next notable support area.
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 summarizes the percentage changes of the Euro (EUR) against major currencies today. According to the data, the Euro showed its strongest performance relative to the Australian Dollar.
| USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | 0.08% | 0.06% | 0.03% | 0.11% | 0.21% | 0.08% | 0.06% | |
| EUR | -0.08% | -0.02% | -0.04% | 0.02% | 0.15% | 0.00% | -0.04% | |
| GBP | -0.06% | 0.02% | -0.04% | 0.05% | 0.15% | 0.03% | -0.03% | |
| JPY | -0.03% | 0.04% | 0.04% | 0.09% | 0.17% | 0.04% | -0.01% | |
| CAD | -0.11% | -0.02% | -0.05% | -0.09% | 0.08% | -0.05% | -0.08% | |
| AUD | -0.21% | -0.15% | -0.15% | -0.17% | -0.08% | -0.13% | -0.19% | |
| NZD | -0.08% | -0.01% | -0.03% | -0.04% | 0.05% | 0.13% | -0.05% | |
| CHF | -0.06% | 0.04% | 0.03% | 0.00% | 0.08% | 0.19% | 0.05% |
The heat map presents percentage moves of the major currencies against one another. The base currency is taken from the left-hand column, while the quote currency is selected from the top row. For instance, selecting the Euro as the base 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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