Key Moments
- EUR/JPY trades near 185.60, pulling back after modest gains but remaining within an ascending channel.
- The 14-day RSI stands at 57.38, signaling positive momentum with scope for further upside before overbought conditions.
- Confluence support around 185.19-184.72, combining the channel floor and key EMAs, is critical for avoiding a deeper bearish reversal.
Technical Bias Remains Constructive
EUR/JPY is trading around 185.60 during European hours on Wednesday, easing after earlier modest gains. Daily chart signals show the pair still moving within an ascending channel, pointing to a prevailing bullish bias.
The cross retains a constructive tone as it continues to trade above both the nine- and 50-period Exponential Moving Averages (EMAs). EUR/JPY is pushing higher from its mid-180s base, with shorter-term EMAs positioned above the longer-term measure, indicating ongoing upward pressure.
Momentum Indicators and Upside Targets
The 14-day Relative Strength Index (RSI) is at 57.38, remaining in positive territory but below the overbought threshold. This configuration suggests there is room for additional gains, with momentum characterized as firm but not excessive.
From a technical perspective, EUR/JPY may advance toward the all-time high of 187.95, which was reached on April 17. Beyond that level, the next potential resistance is located near the upper boundary of the ascending channel around 188.20.
Critical Confluence Support Levels
On the downside, EUR/JPY is currently testing immediate support around the lower edge of the ascending channel. This area aligns with the nine-day EMA at 185.19 and the 50-day EMA at 184.72, forming a notable confluence support zone.
A decisive break below this clustered support area could signal a bearish reversal, opening the way for a move toward the nine-month low of 179.37, which was recorded on August 3.
EUR/JPY: Daily Chart
(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 shows the percentage change of the Euro (EUR) against major currencies today. According to this snapshot, the Euro was the weakest against the Australian Dollar.
| USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | 0.06% | 0.18% | -0.10% | 0.20% | -0.24% | 0.33% | 0.30% | |
| EUR | -0.06% | 0.12% | -0.15% | 0.19% | -0.29% | 0.27% | 0.24% | |
| GBP | -0.18% | -0.12% | -0.30% | 0.06% | -0.40% | 0.16% | 0.13% | |
| JPY | 0.10% | 0.15% | 0.30% | 0.31% | -0.13% | 0.46% | 0.40% | |
| CAD | -0.20% | -0.19% | -0.06% | -0.31% | -0.44% | 0.16% | 0.09% | |
| AUD | 0.24% | 0.29% | 0.40% | 0.13% | 0.44% | 0.60% | 0.53% | |
| NZD | -0.33% | -0.27% | -0.16% | -0.46% | -0.16% | -0.60% | -0.06% | |
| CHF | -0.30% | -0.24% | -0.13% | -0.40% | -0.09% | -0.53% | 0.06% |
The heat map reflects percentage changes among major currencies. The base currency is selected from the left-hand column, while the quote currency is taken from the top row. For instance, choosing 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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