EUR/JPY Price Forecast: Tests 180.00 support near nine-day EMA

The setup is near-term bearish but not yet confirmed: EUR/JPY is testing 180.00 alongside its nine-day EMA, while the descending channel and RSI below 50 point to weak momentum. A sustained break beneath that support would strengthen the downside case; holding it could instead leave room for a technical rebound. The cited chart levels are 177.30 and 175.70 below, with the 50-day EMA at 182.46 as the first major resistance.

The broader driver is the relative policy outlook. The article reports MUFG’s view that the BoJ may continue tightening at a steadier pace, which could support the yen over coming quarters and weigh on EUR/JPY. But higher external yields and energy prices may limit that support, so the cross’s direction also depends on euro-area conditions and changing rate expectations.

For traders, treat 180.00 as a key confirmation area rather than a standalone signal. Monitor whether the pair holds or closes below it, whether it can reclaim the 50-day EMA, and whether BoJ expectations shift further; a bounce at support would not by itself reverse the broader bearish technical structure.