The currency pair falls beneath nine-day and 50-day EMAs, with RSI at 37 signaling sustained downward pressure.
EUR/JPY extended its decline to 182.10 in Asian trading Thursday, reversing two days of gains as technical indicators point to a bearish near-term outlook. The cross remains below both the nine-day and 50-day Exponential Moving Averages, reinforcing downward pressure.
Recent highs have been capped by overlapping EMA barriers, while the 14-day Relative Strength Index at 37 suggests persistent but moderate downside momentum. Initial support lies at the August 3 eight-month low of 179.37, with further downside potential toward 175.70.
Upside resistance is seen at the nine-day EMA of 183.16, followed by the 50-day EMA at 184.71. A break above these levels could shift sentiment bullish, targeting the April 17 all-time high of 187.95.