Key Moments
- EUR/JPY trades around 177.70 after breaking its four-day winning streak, holding within a descending channel.
- The pair is testing support at the nine-day EMA of 177.54, with the 14-day RSI at 42.59 indicating subdued momentum.
- Upside is constrained by channel resistance near 178.70 and the 50-day EMA at 179.84, while downside levels include 175.70 and 169.72.
EUR/JPY Holds Near Short-Term Support
EUR/JPY is trading near 177.70 during Asian hours on Tuesday, bringing an end to a four-day advance. On the daily chart, the cross remains confined within a descending channel, maintaining a generally bearish technical backdrop.
Price action is currently compressed between nearby support and overhead resistance. The pair is hovering just above its nine-day Exponential Moving Average (EMA) at 177.54, while the 50-day EMA at 179.84 is acting as a ceiling and keeping the broader stance neutral rather than firmly positive. The 14-day Relative Strength Index (RSI) stands at 42.59, below the 50 midpoint, indicating mildly weak momentum without signaling oversold conditions.
Downside Levels: Focus on Recent Lows
EUR/JPY is retesting immediate support at the nine-day EMA of 177.54. A confirmed break beneath this short-term average would reinforce the bearish tone and could drive the cross toward the 11-month low of 175.70, which was recorded in November 2025, and then toward the lower band of the descending channel around 175.60. A sustained move below this confluence of support would leave the 14-month low at 169.72 vulnerable.
Upside Barriers and Potential Reversal Points
On the topside, the first notable resistance is located near the upper boundary of the descending channel around 178.70. Above that, the 50-day EMA at 179.84 forms the next key barrier. A break and close above this medium-term moving average would signal a bullish reversal and could allow EUR/JPY to revisit the all-time high of 187.95, reached on April 17.
BoJ Commentary and Inflation Outlook
Analysts at Danske Bank note that in Japan, BoJ Governor Kazuo Ueda now judges underlying inflation to be “quite close” to the 2% target, pointing to tight labour markets and strong global AI demand as key sources of price pressure.
Euro Performance Against Major Currencies
The following table summarizes the percentage change of the Euro (EUR) against selected major currencies today, highlighting that the Euro was weakest versus the Australian Dollar.
| USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | 0.05% | 0.07% | 0.00% | 0.03% | -0.28% | 0.17% | 0.15% | |
| EUR | -0.05% | -0.05% | -0.05% | -0.01% | -0.28% | 0.07% | 0.05% | |
| GBP | -0.07% | 0.05% | -0.02% | -0.02% | -0.23% | 0.12% | 0.10% | |
| JPY | 0.00% | 0.05% | 0.02% | 0.03% | -0.18% | 0.14% | 0.13% | |
| CAD | -0.03% | 0.01% | 0.02% | -0.03% | -0.22% | 0.13% | 0.11% | |
| AUD | 0.28% | 0.28% | 0.23% | 0.18% | 0.22% | 0.35% | 0.32% | |
| NZD | -0.17% | -0.07% | -0.12% | -0.14% | -0.13% | -0.35% | -0.01% | |
| CHF | -0.15% | -0.05% | -0.10% | -0.13% | -0.11% | -0.32% | 0.01% |
The heat map should be read using the base currency from the left column and the quote currency from the top row. For instance, selecting the Euro in the left column and moving across to the US Dollar cell shows the percentage change for EUR (base)/USD (quote).
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