Key Moments
- EUR/JPY traded around 179.70 during Asian hours on Monday after modest prior-day losses, remaining inside a descending channel.
- The pair stayed below both the nine-day EMA at 177.88 and the 50-day EMA at 182.17, with the 14-day RSI at 41.43 indicating weak but stabilizing momentum.
- Key downside levels include the channel floor near 177.00 and the 11-month low at 175.70, while resistance stands at the 50-day EMA, the channel top around 184.60, and the all-time high at 187.95.
Technical Landscape: Bearish Structure Intact
EUR/JPY advanced during Asian trading on Monday, changing hands near 179.70 after posting slight declines in the previous session. On the daily time frame, price action remained confined within a descending channel, underlining a prevailing bearish tone for the cross.
The pair continued to trade beneath both the nine-day and 50-day Exponential Moving Averages (EMAs), reinforcing a negative near-term bias. The shorter EMA, positioned just above spot levels, signaled immediate overhead pressure, while the longer EMA suggested that rallies remained constrained within the broader downtrend.
Momentum indicators aligned with this cautious picture. The 14-day Relative Strength Index (RSI) stood at 41.43, below the neutral 50 mark, pointing to subdued yet stabilizing momentum following the latest pullback.
Key Support and Resistance Levels
On the downside, EUR/JPY may gravitate toward the lower boundary of the descending channel, located near 177.00. A sustained move through this region could bring the next notable support into focus at the 11-month low of 175.70, which was recorded in November 2025.
On the upside, the first technical barrier is the nine-day EMA at 177.88. A clear break above this short-term average could open the door to a more constructive phase, potentially paving the way for a test of the 50-day EMA at 182.17. Beyond that, further resistance is seen at the upper edge of the descending channel, around 184.60. If buying pressure accelerates, attention could turn to the all-time high at 187.95, which was set on April 17.
Yen Support from Verbal Intervention
Strategists at Scotiabank noted that the Japanese Yen has been leading gains among G10 currencies against the US Dollar, highlighting a supportive backdrop for the JPY side of the cross. They emphasized that “JPY is outperforming on verbal intervention & FX comments from both PM Takaichi & FinMin Katayama.” According to their assessment, recent comments from Japan’s political leadership expressing unease about Yen weakness have provided “notable near-term support” and driven what the bank described as an “impressive move” in the currency.
These developments contributed to the current technical environment for EUR/JPY, where Yen firmness interacts with a structurally bearish chart setup for the cross.
Euro Performance Against Major Currencies
The following table summarizes the percentage change of the Euro (EUR) against selected major currencies today. According to this snapshot, the Euro showed its strongest performance versus the Japanese Yen.
| USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | 0.02% | -0.16% | 0.27% | 0.05% | -0.07% | -0.28% | -0.01% | |
| EUR | -0.02% | -0.02% | 0.27% | 0.04% | -0.07% | -0.17% | -0.03% | |
| GBP | 0.16% | 0.02% | 0.29% | 0.05% | -0.06% | -0.14% | 0.11% | |
| JPY | -0.27% | -0.27% | -0.29% | -0.24% | -0.36% | -0.45% | -0.17% | |
| CAD | -0.05% | -0.04% | -0.05% | 0.24% | -0.14% | -0.23% | 0.05% | |
| AUD | 0.07% | 0.07% | 0.06% | 0.36% | 0.14% | -0.10% | 0.17% | |
| NZD | 0.28% | 0.17% | 0.14% | 0.45% | 0.23% | 0.10% | 0.29% | |
| CHF | 0.01% | 0.03% | -0.11% | 0.17% | -0.05% | -0.17% | -0.29% |
The heat map is read by choosing the base currency from the left column and the quote currency from the top row. For instance, selecting Euro from the left and moving horizontally to the US Dollar cell provides the percentage move for EUR (base)/USD (quote).
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