EUR/JPY Price Forecast: Can nine-day EMA support near 177.50 hold?

Immediate support for EUR/JPY comes under test at the nine-day EMA of 177.54.
Momentum remains mildly weak, with the 14-day Relative Strength Index at 42.59.
Near 178.70, the descending channel’s upper boundary provides the first major resistance.

A bearish bias persists in EUR/JPY as its four-day run of gains ends, with the cross trading near 177.70 in Tuesday’s Asian session. The daily technical chart places the pair inside a descending channel, indicating that the bearish outlook remains intact.

Caught between near-term support and medium-term resistance, EUR/JPY is in a consolidation phase. It remains marginally above the nine-day Exponential Moving Average (EMA) of 177.54. However, the 50-day EMA at 179.84 limits the upside, leaving the broader outlook neutral rather than clearly bullish. At 42.59, the 14-day Relative Strength Index (RSI) is below its midpoint, suggesting mildly weak momentum without signalling outright oversold conditions.

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At 177.54, the nine-day EMA is the immediate support being tested by EUR/JPY. A decisive break beneath this short-term moving average would reinforce the bearish outlook and place the cross under downward pressure towards 175.70, the 11-month low recorded in November 2025. The descending channel’s lower boundary, around 175.60, would be the next level to watch. Should stronger selling drive the pair beneath this zone of converging support, an extended decline could bring the 14-month low of 169.72 into view.

For any recovery, the first major hurdle is the descending channel’s upper edge near 178.70, ahead of the 50-day EMA at 179.84. Breaking above this medium-term moving average would trigger a bullish reversal and clear the way for EUR/JPY to move towards its record high of 187.95, set on April 17.

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(The technical analysis of this story was written with the help of an AI tool. Know more.)

How Is the Euro Performing Today?

The Euro’s weakest performance today was against the Australian Dollar. The table below details today’s percentage movements in the Euro (EUR) against the major currencies listed.

	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%

Percentage movements between the major currencies are displayed in the heat map. Select the base currency from the left-hand column and the quote currency from the top row. For instance, choosing the Euro on the left and following its row across to the US Dollar gives the percentage change for EUR (base)/USD (quote) in the corresponding cell.