EUR/JPY Price Forecast: Falls toward 184.50 near nine-day EMA support

• EUR/JPY may rebound toward the immediate resistance aligned at the psychological level of 185.00
• The 14-day Relative Strength Index at 55.67 stays above 50, signaling a mild upside bias.
• The initial support lies at the nine-day EMA near 184.35.

EUR/JPY extends its losses for the second successive session, trading around 184.70 during the Asian hours on Friday. The technical analysis of the daily chart suggests that the 14-day Relative Strength Index (RSI) at 55.67 (neutral) stays north of 50, confirming a mild upside skew. RSI leans upward, keeping momentum on the buy side.

The EUR/JPY cross holds above the nine-day Exponential Moving Average (EMA) and the 50-day EMA, keeping a bullish bias. The short-term average continues to rise above the longer one, endorsing the positive momentum. The ascending 50-day EMA underpins the broader trend, while the nine-day EMA caps intraday pullbacks.

The immediate resistance aligns at the psychological level of 185.00, followed by the two-week high of 185.51, reached on February 5. Further advances would support the EUR/JPY cross to test the all-time high of 186.88, which was recorded on January 23.

The EUR/JPY cross may find its immediate support at the nine-day EMA of 184.35, followed by the 50-day EMA at 182.99 and an eight-week low of 181.79, recorded on January 26. A break below this confluence would cause the emergence of bearish bias and put downward pressure on the currency cross to navigate the region around the three-month low of 175.70.

(The technical analysis of this story was written with the help of an AI tool.)