EUR/JPY Price Forecast: Trades near 181.50 after rebounding from descending channel bottom

The EUR/JPY pair has recovered over the past two days of declines, settling around 181.50 during Asian session trading on Friday. Daily‑chart analysis shows the currency remains within a descending channel pattern, indicating a modestly bearish outlook.

Yet the cross continues to show a near‑term bearish tilt, staying beneath both the nine‑day and fifty‑day exponential moving averages. Recent trends have driven the pair back under a tightly packed cluster of dynamic resistance, while the 14‑day RSI sits just above 30—signalling lingering downside pressure even as it nears oversold territory.

The EUR/JPY cross may test the immediate support near 180.70, the lower edge of the descent channel. Breaching the channel floor would reinforce the bearish sentiment and push the currency toward the nine‑month range mark of 179.37, last observed on August 3.

Yen surge fuels talk of BoJ intervention

Strategists at Scotiabank note that the Yen has mounted a sharp rebound against the dollar, saying “the yen is up a shocking 1.5% versus the USD, building on Wednesday’s strong gains that reignite speculation about possible official intervention.” Their update underscores recent Yen strength and highlights the likelihood that Japanese authorities may be preparing to intervene if currency movements become disordered.

(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 strongest against the Japanese Yen.

USDEURGBPJPYCADAUDNZDCHFUSD-0.00%-0.03%0.20%-0.03%-0.08%-0.29%0.07%EUR0.00%-0.04%0.20%0.00%-0.10%-0.26%0.07%GBP0.03%0.04%0.23%0.04%-0.05%-0.23%0.10%JPY-0.20%-0.20%-0.23%-0.21%-0.30%-0.48%-0.15%CAD0.03%-0.00%-0.04%0.21%-0.09%-0.28%0.07%AUD0.08%0.10%0.05%0.30%0.09%-0.18%0.15%NZD0.29%0.26%0.23%0.48%0.28%0.18%0.33%CHF-0.07%-0.07%-0.10%0.15%-0.07%-0.15%-0.33%

The heat map shows percentage changes of major currencies against each other. The base currency is selected from the left column, while the quote currency comes from the top row. For instance, selecting the Euro from the leftmost list and moving across to the US Dollar yields the percentage change representing EUR (base)/USD (quote).

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