Give
okteta a try. It is a GUI raw file editor that displays the file in both hexadecimal and in text in separate parts of the window. It can display the text using any one of many different code pages that it supports, including EBCDIC. It just interprets the binary data in whatever code page you specify for the purpose of displaying it on the screen as an aid to editing, but it doesn't actually convert anything in the underlying raw file, so there is no risk of corruption to any of the data.
I think okteta is perfect for what you want to do.
I really don't know anything about Emacs, but I did find this info about an
EBCDIC table on the Emacs wiki. Maybe it will be useful to you.