Check out the latest versions of JRE that is certified with Oracle EBS 12.1 and 12.2...
Below are links to the Certifications for JRE in the "Oracle E-Business Suite Technology" Blog
JRE 1.8.0_161/162 Certified with Oracle EBS 12.1 and 12.2
Java Runtime Environment 1.8.0_161 (a.k.a. JRE 8u161-b12) and JRE 1.8.0_162 (a.k.a. JRE 8u162-b16) and later updates on the JRE 8 codeline are now certified with Oracle E-Business Suite 12.1 and 12.2 for Windows clients. Java Web Start is available This JRE release may be run with either the Java plug-in or Java Web Start. Java Web Start is certified with EBS 12.1 and 12.2 for Windows clients. Considerations if you're also running JRE 1.6 or 1.7 JRE 1.7 and JRE 1.6 updates...