Key Moments
- EUR/JPY trades around 179.10 in Asian hours on Wednesday, extending gains into a third consecutive session while remaining in a descending channel.
- Price action stays below both the nine-day and 50-day EMAs, with the 14-day RSI near 34 signaling ongoing downside bias without reaching extreme oversold levels.
- Key technical levels include channel support near 177.60 and resistance at the nine-day EMA at 179.69, the 50-day EMA at 183.00, and the upper channel boundary around 185.20.
EUR/JPY Technical Overview
EUR/JPY is advancing for a third straight session, trading close to 179.10 during Asian hours on Wednesday. Despite the short-term recovery, the daily chart indicates that the pair continues to move within a descending channel, leaving the broader technical outlook tilted to the downside.
The cross remains under pressure as it holds beneath both the nine-day and 50-day Exponential Moving Averages (EMAs). This alignment implies that upward moves are likely to encounter selling interest. At the same time, the 14-day Relative Strength Index (RSI) hovering around 34 points to continued bearish momentum, while indicating that conditions have not yet reached an extreme oversold state.
Downside Levels to Watch
On the downside, initial technical support is seen near the lower boundary of the descending channel around 177.60. A sustained move below this zone would reinforce the prevailing bearish narrative and could accelerate selling pressure.
In that scenario, EUR/JPY would open the way toward nearly an 11-month low at 175.70, which was recorded in November 2025.
Potential Resistance and Upside Targets
If buyers manage to extend the current rebound, the first notable obstacle stands at the nine-day EMA, located at 179.69. A break above this dynamic level would then expose the 50-day EMA at 183.00 as the next area of resistance.
Further up, additional resistance is aligned with the upper boundary of the descending channel near 185.20. Beyond that, focus would shift to the all-time high at 187.95, which was set on April 17.
(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 summarizes the percentage change of the Euro (EUR) against major currencies today. According to the data, the Euro showed its strongest performance versus the New Zealand Dollar.
| USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | 0.09% | 0.08% | 0.20% | 0.11% | 0.14% | 0.34% | 0.10% | |
| EUR | -0.09% | -0.01% | 0.14% | 0.04% | 0.03% | 0.26% | 0.03% | |
| GBP | -0.08% | 0.01% | 0.15% | 0.04% | 0.04% | 0.28% | 0.03% | |
| JPY | -0.20% | -0.14% | -0.15% | -0.10% | -0.08% | 0.15% | -0.11% | |
| CAD | -0.11% | -0.04% | -0.04% | 0.10% | 0.02% | 0.24% | -0.02% | |
| AUD | -0.14% | -0.03% | -0.04% | 0.08% | -0.02% | 0.23% | -0.05% | |
| NZD | -0.34% | -0.26% | -0.28% | -0.15% | -0.24% | -0.23% | -0.24% | |
| CHF | -0.10% | -0.03% | -0.03% | 0.11% | 0.02% | 0.05% | 0.24% |
The heat map reflects how each currency performs against the others. The base currency is taken from the left column, and the quote currency from the top row. For instance, selecting the Euro as the base currency from the left column and moving horizontally to the US Dollar cell shows the percentage move in EUR (base)/USD (quote).
TradingPedia.com is a financial media specialized in providing daily news and education covering Forex, equities and commodities. Our academies for traders cover 
