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EUR/JPY trades higher but stays bearish below key moving averages
Technical levels to watch include support near 176.30 and a prior 11-month low at 175.70.
EUR/JPY edged higher during European hours on Thursday, trading around 177.10 after modest losses the prior day, according to FXStreet.
The outlet’s technical read says the cross remains in a descending channel and holds a bearish near term tone while price stays below the nine period and 50 period exponential moving averages, with the short term EMA below the longer one.
FXStreet also points to the 14 day Relative Strength Index at 33.25, hovering just above oversold territory, as it tests potential downside toward the channel’s lower boundary near 176.30, followed by an 11 month low of 175.70 seen in November 2025.
On the upside, resistance is flagged at the nine day EMA around 177.87 and then the 50 day EMA at 180.91, where a break could shift the cross toward the upper end of the channel.