EUR/JPY Price Forecast: Slips below 179.00 as bearish bias prevails
- EUR/JPY may find initial support at the descending channel bottom near 177.40.
- The 14-day Relative Strength Index near 32 signals persistent downside pressure.
- The primary barrier is the nine-day EMA at 179.53.
EUR/JPY declines after three days of gains, trading around 178.90 during Asian hours on Thursday. Technical analysis of the daily chart shows the currency cross trading within a descending channel, keeping the overall bearish bias.
The EUR/JPY cross is keeping a bearish near-term tone as it holds below both the nine- and 50-period Exponential Moving Averages (EMAs). The currency cross’s failure to reclaim these short- and medium-term averages suggests rallies are being capped.
The 14-day Relative Strength Index (RSI) around 32 hints at lingering downside pressure, with the cross hovering just above oversold territory rather than staging a robust rebound.
The EUR/JPY cross may fall toward the primary support at the lower boundary of the descending channel around 177.40, followed by nearly an 11-month low of 175.70, recorded in November 2025.
On the upside, the EUR/JPY cross could target the nine-day EMA of 179.53, followed by the 50-day EMA of 182.84. Further resistance lies at the upper boundary of the descending channel around 185.10, followed by the all-time high of 187.95 set on April 17.
Euro volatility firms as markets brace for FOMC
Strategists at Scotiabank note that overnight Euro volatility has picked up ahead of the FOMC, with “overnight EUR vol has firmed modestly, implying a breakeven move in spot of about 50 pips.” They point out that this is “a bit below recent peaks,” which in their view suggests “markets may have largely priced in a hawkish Fed outcome” at this stage.
(The technical analysis of this story was written with the help of an AI tool. Know more.)
Euro Price Today
The table below shows the percentage change of Euro (EUR) against listed major currencies today. Euro was the weakest against the Australian Dollar.
| USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | 0.04% | 0.06% | -0.14% | 0.04% | -0.21% | -0.18% | -0.03% | |
| EUR | -0.04% | 0.03% | -0.18% | 0.00% | -0.26% | -0.18% | -0.06% | |
| GBP | -0.06% | -0.03% | -0.19% | -0.02% | -0.28% | -0.21% | -0.06% | |
| JPY | 0.14% | 0.18% | 0.19% | 0.13% | -0.07% | -0.06% | 0.09% | |
| CAD | -0.04% | -0.00% | 0.02% | -0.13% | -0.23% | -0.19% | -0.03% | |
| AUD | 0.21% | 0.26% | 0.28% | 0.07% | 0.23% | 0.07% | 0.18% | |
| NZD | 0.18% | 0.18% | 0.21% | 0.06% | 0.19% | -0.07% | 0.18% | |
| CHF | 0.03% | 0.06% | 0.06% | -0.09% | 0.03% | -0.18% | -0.18% |
The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the Euro from the left column and move along the horizontal line to the US Dollar, the percentage change displayed in the box will represent EUR (base)/USD (quote).