EUR/JPY traded around 177.50 in Asian hours on Monday after opening with a bearish gap and stayed in negative territory. The daily chart kept the cross inside a descending channel, pointing to a bearish bias, while price action remained capped below the 50-day EMA at 180.01. The move left the pair trying to steady just above the nine-day EMA, with the 14-day RSI near 41 signalling muted momentum.
Support And Downside Levels
On the downside, traders are watching the nine-day EMA at 177.40 as immediate support, followed by the channel floor near the 11-month low of 175.70 set in November 2025. A break beneath that area would bring the 14-month low at 169.72 into view.
Resistance And Central Bank Outlook
On the upside, resistance sits at the 50-day EMA of 180.01; a push above it would shift focus to the channel’s upper boundary near 183.60 and then the all-time high of 187.95 from April 17. Separately, commentary referenced a hawkish tilt at the BoJ and the case for further tightening.
