EUR/JPY Faces Crucial Test at Nine-Day EMA Support
The EUR/JPY currency cross is facing a test of its immediate support at the nine-day Exponential Moving Average (EMA) of 180.12.
The 14-day Relative Strength Index (RSI) remains below the neutral 50 mark, indicating lingering downside pressure.
A break below this short-term price average would reinforce the bearish bias and put downward pressure on the currency cross to navigate the region around the lower boundary of the descending channel at 177.00, followed by an 11-month low of 175.70, recorded in November 2025.
On the upside, a rebound above the nine-day EMA could trigger a bullish reversal and support the currency cross to test the 50-day EMA at 182.31, with further resistance lying at the upper boundary of the descending channel around 184.80, followed by the all-time high of 187.95 set on April 17.