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EUR/JPY stays near 184.00 as tone turns mildly bearish
EUR/JPY is trading around 183.9, with analysts pointing to support at the nine-day EMA near 183.46, while a break below it could pressure the pair toward the August 3 eight-month low.
EUR/JPY was little changed for a second straight day, trading around 183.9 during Wednesday’s Asian session, as the pair holds above the nine-day EMA but slips beneath the 50-day EMA, keeping a mildly bearish near-term tone. FXStreet said intraday dips still attracted demand, but the technical setup suggests the prior bounce may be vulnerable to renewed selling.
The 14-day RSI at 48.2 sits near the middle of its range, signaling neutral momentum rather than a clear push lower or an immediate reversal. The pair’s primary support is at the nine-day EMA around 183.46, and a decisive break below that level would likely reinforce the bearish bias.
FXStreet noted that if sellers gain control, EUR/JPY could face downward pressure toward the eight-month low of 179.37 from August 3, followed by the nine-month low of 175.70. On the upside, resistance is seen at the 50-day EMA near 184.54.
The article also cited Scotiabank strategists saying the yen is holding firm after recent volatility, describing the currency as steady and showing signs of stabilization following a Monday drop tied to concerns about pressure and a rapid reversal of intervention-driven gains. For now, the report said the current price action suggests those intervention gains are being preserved despite lingering concerns.