Key Moments
- EUR/JPY trades near 178.40, posting a second straight daily decline within a descending channel.
- The cross stays below its nine- and 50-period EMAs, while the RSI at 23.09 signals oversold conditions with sellers still in control.
- Key support is seen near 177.70 and the 10-month low at 175.70, with resistance at the nine-day EMA at 182.00 and the all-time high at 187.95.
Bearish Bias Persists in EUR/JPY
EUR/JPY continued to weaken for a second consecutive session, trading around 178.40 during Asian hours on Tuesday. Price action on the daily chart shows the pair holding inside a descending channel, reinforcing a negative technical outlook for the cross.
The pair retains a bearish short-term structure as it trades beneath both the nine-period and 50-period Exponential Moving Averages (EMAs). The move extends the retreat from recent peaks, while momentum indicators highlight stretched downside pressure.
Momentum Signals and Key Technical Levels
The Relative Strength Index (RSI) stands at 23.09 on the daily timeframe, firmly in oversold territory. This reading suggests that although selling pressure has become extended, market participants still favor the downside as long as price remains capped below the clustered EMAs.
EUR/JPY is currently trading just above a recently established support area around 177.70, aligned with the lower boundary of the descending channel. A clear break beneath this channel floor would reinforce the bearish narrative and could expose the cross to further losses toward the 10-month low at 175.70, which was registered in November 2025.
Upside Barriers and Potential Rebound Zones
On the topside, any recovery in EUR/JPY may first encounter resistance near the nine-day EMA at 182.00. If buyers manage to push beyond this level, the next technical obstacle is the 50-day EMA at 184.13.
Additional resistance is located around 185.70 at the upper boundary of the current descending channel. A move above that area would turn attention to the all-time high at 187.95, reached on April 17.
Euro Performance Against Major Currencies
The following table presents the percentage changes of the Euro (EUR) against a basket of major currencies today. The data indicate that the Euro was weakest versus the Japanese Yen.
| USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | -0.04% | 0.00% | -0.54% | -0.15% | 0.02% | 0.27% | -0.07% | |
| EUR | 0.04% | 0.05% | -0.52% | -0.09% | 0.06% | 0.32% | -0.03% | |
| GBP | -0.01% | -0.05% | -0.56% | -0.15% | 0.01% | 0.28% | -0.07% | |
| JPY | 0.54% | 0.52% | 0.56% | 0.42% | 0.59% | 0.86% | 0.51% | |
| CAD | 0.15% | 0.09% | 0.15% | -0.42% | 0.16% | 0.43% | 0.09% | |
| AUD | -0.02% | -0.06% | -0.01% | -0.59% | -0.16% | 0.27% | -0.08% | |
| NZD | -0.27% | -0.32% | -0.28% | -0.86% | -0.43% | -0.27% | -0.34% | |
| CHF | 0.07% | 0.03% | 0.07% | -0.51% | -0.09% | 0.08% | 0.34% |
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