EUR/JPY Tests Key Support as Bearish Outlook Persists
The EUR/JPY currency cross has paused its recent gains and is now trading around 180.10 during Asian hours on Friday.
According to technical analysis, the EUR/JPY cross continues to trade within a descending channel pattern, indicating a persistent bearish outlook.
The currency cross is holding below the 50-day Exponential Moving Average (EMA), which reinforces its bearish bias. The 14-day Relative Strength Index (RSI) at 42.47 remains below the neutral 50 mark, suggesting lingering downside pressure rather than a decisive recovery.
A successful break below the nine-day EMA of 180.12 would 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.