EUR/JPY Price Forecast: Tests nine-day EMA support near 180.00
EUR/JPY has pared back its recent gains from the previous day, trading around 180.10 during Asian hours on Friday. Technical analysis of the daily chart shows that the currency cross continues to trade within a descending channel pattern, pointing to a persistent bearish outlook.
EUR/JPY has slightly reduced its recent gains, trading near 180.10 during Asian trading hours on Friday. The daily chart's technical analysis indicates a descending channel pattern, suggesting a sustained bearish stance. The EUR/JPY pair is still under the 50-day Exponential Moving Average (EMA), maintaining a negative near-term outlook.
The price is currently on the nine-day EMA, which acts as a short-term pivot point. Meanwhile, the 14-day Relative Strength Index (RSI) at 42.47 remains below the 50 mark, signifying ongoing downside pressure rather than a recovery. EUR/JPY is currently testing the immediate support level at the nine-day EMA, which is 180.12. A successful break below this short-term average would further bolster the bearish sentiment and push the currency pair towards the lower boundary of the descending channel at 177.00, and potentially an 11-month low of 175.70, observed in November 2025.
Conversely, a rebound above the nine-day EMA could trigger a bullish reversal and allow the currency pair to target the 50-day EMA at 182.31. The upper boundary of the descending channel stands at approximately 184.80, followed by an all-time high of 187.95, reached on April 17. Akhtar Faruqui, a Forex Analyst based in New Delhi, India, provides this technical analysis with the assistance of an AI tool.
Written by urgent.news from FXStreet's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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