EUR/JPY Price Forecast: Remains near 186.00 near the top of the descending channel

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EUR/JPY is trading slightly after posting modest gains the previous day, reaching around 185.80 during Asian hours on Friday. The EUR/JPY cross rate maintains a constructive bullish bias as it remains above both the nine-day and 50-day exponential moving average (EMA). The alignment of the shorter nine-day EMA above the 50-day EMA indicates a still supportive trend backdrop.

The 14-day relative strength index (RSI) near 56 remains in positive territory without entering overbought conditions, suggesting that growth momentum is intact but not overextended.

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Technical analysis of the daily chart suggests that the currency cross remains near the upper boundary of the descending channel formation around 186.20. A sustained break above the channel would signal bullish confirmation. Further progress will support EUR/JPY in its exploration of the region near the all-time high of 187.95, recorded on April 17.

On the other hand, the main support is the nine-day EMA at 185.60, followed by the 50-day EMA at 185.10. Further declines below the moving averages would trigger a bearish reversal and put downward pressure on the EUR/JPY cross to move in the region near the three-month low of 181.87 recorded on March 16, followed by the near six-month low of 180.81 reached on February 12.

EUR/JPY: Daily chart

(The technical analysis for this story was written with the lend a hand of an AI tool.)

Price in euro today

The table below shows the current percentage change of the euro (EUR) against the main listed currencies. The euro was strongest against the Australian dollar.

USD EUR GBP JPY BOOR AUD NZD CHF
USD -0.04% -0.02% -0.05% -0.03% 0.16% 0.10% -0.05%
EUR 0.04% 0.00% -0.02% 0.00% 0.20% 0.14% -0.01%
GBP 0.02% 0.00% -0.04% -0.04% 0.17% 0.11% -0.03%
JPY 0.05% 0.02% 0.04% 0.01% 0.20% 0.14% -0.01%
BOOR 0.03% 0.00% 0.04% -0.01% 0.18% 0.13% -0.01%
AUD -0.16% -0.20% -0.17% -0.20% -0.18% -0.06% -0.21%
NZD -0.10% -0.14% -0.11% -0.14% -0.13% 0.06% -0.15%
CHF 0.05% 0.00% 0.03% 0.00% 0.01% 0.21% 0.15%

The heat map shows the percentage changes of the major currencies relative to each other. The base currency is selected from the left column and the quote currency from the top row. For example, if you select Euro from the left column and move along the horizontal line to US Dollar, the percentage change displayed in the box will represent EUR (base)/USD (quote).

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