Key Moments
- EUR/JPY has risen for a fourth straight session, trading near 186.50 during Asian hours on Friday.
- The pair is trading above its nine-period and 50-period EMAs, with a 14-day RSI around 60 signaling ongoing but not overextended upside momentum.
- Price action is confined within a rising wedge pattern, with resistance near 186.80 and key support anchored around 185.94 and 185.26.
Technical Setup: Bullish Momentum Within a Risky Pattern
EUR/JPY is advancing for a fourth consecutive session, hovering around 186.50 in Asian trading on Friday. The cross maintains a constructive short-term tone as spot levels remain above both the nine-period and 50-period Exponential Moving Averages (EMAs). Sustained trading above these trend measures, together with a 14-day Relative Strength Index (RSI) reading around 60, points to ongoing upside momentum while avoiding an overbought signal.
On the daily chart, an earlier ascending triangle formation has evolved into a rising wedge pattern. This transition reflects a move from bullish accumulation toward a structure more often associated with market fatigue, which typically carries an elevated risk of a pronounced bearish reversal.
Upside Scope: Testing Wedge Resistance and Historic Highs
The cross is currently fluctuating within the boundaries of the rising wedge, with the upper band located near 186.80. A push higher within this configuration would open the way for a test of the region surrounding the all-time peak at 187.95, which was set on April 17.
Downside Levels: Key EMA and Wedge Support Zones
On the downside, initial technical support is seen at the nine-day EMA at 185.94. Below there, additional support is aligned with the 50-day EMA at 185.26, which also coincides with the lower boundary of the rising wedge.
A clear break beneath the wedge structure would add downside pressure to EUR/JPY, exposing the area around the five-month low at 181.87, registered on March 16, and subsequently the seven-month low at 180.81.
EUR/JPY – Daily Chart Context
EUR/JPY price action is being guided by the interaction of the rising wedge formation, the nine-day and 50-day EMAs, and momentum readings from the 14-day RSI. Together, these elements frame a backdrop of short-term bullishness coexisting with a technically defined risk of reversal should price fail to maintain support along the wedge’s lower boundary.
(The technical analysis of this story was written with the help of an AI tool. Know more.)
Euro Performance Against Major Currencies
The table below presents the percentage change of the Euro (EUR) versus major currencies today. According to these figures, the Euro showed its strongest relative performance against the US Dollar.
| USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | -0.09% | 0.00% | -0.03% | -0.06% | -0.08% | -0.12% | 0.03% | |
| EUR | 0.09% | 0.06% | 0.02% | -0.02% | -0.06% | -0.09% | 0.06% | |
| GBP | -0.01% | -0.06% | -0.02% | -0.07% | -0.11% | -0.12% | 0.01% | |
| JPY | 0.03% | -0.02% | 0.02% | -0.02% | -0.07% | -0.09% | 0.04% | |
| CAD | 0.06% | 0.02% | 0.07% | 0.02% | -0.04% | -0.08% | 0.07% | |
| AUD | 0.08% | 0.06% | 0.11% | 0.07% | 0.04% | -0.02% | 0.09% | |
| NZD | 0.12% | 0.09% | 0.12% | 0.09% | 0.08% | 0.02% | 0.13% | |
| CHF | -0.03% | -0.06% | -0.01% | -0.04% | -0.07% | -0.09% | -0.13% |
The heat map above reflects percentage changes between major currencies. The base currency is selected from the left-hand column and the quote currency from the top row. For instance, choosing the Euro as the base currency on the left and moving horizontally to the US Dollar column reveals the percentage change for EUR (base)/USD (quote).
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