EUR/JPY Price Forecast: Seems vulnerable near 181.00; break below 100-day SMA awaited
|- EUR/JPY attracts heavy selling for the fourth straight day amid notable JPY strength.
- The overnight breakdown below key technical support backs the case for further losses.
- A sustained strength above the 50-day SMA would negate the near-term negative bias.
The EUR/JPY cross extends this week's sharp retracement slide from the 186.25 region for the fourth straight day and drops to over a two-month low during the Asian session on Thursday. Spot prices currently trade around the 181.00 mark, down nearly 0.50% for the day, and seem vulnerable to weakening further.
The overnight breakdown below the 50-day Simple Moving Average (SMA) and the 183.00 strong horizontal support was seen as a key trigger for bearish traders. The downfall, however, stalls just above the 100-day SMA, currently pegged at 180.75, which should now act as a key pivotal point amid strong follow-through buying around the Japanese Yen (JPY).
The Moving Average Convergence Divergence (MACD) histogram has turned more negative, implying the MACD line sits beneath the Signal line with momentum hovering around the zero mark. The RSI at 36 indicates weakening momentum without oversold conditions. Hence, a break beneath the 100-day SMA support would warn of a deeper retracement slide.
Confirmation would come from the MACD histogram contracting toward zero after its recent negative expansion. An RSI recovery through 50 would strengthen the bullish case, whereas a slide toward 30 would keep sellers in control. That said, a daily close back above the 50-day SMA would revive upside momentum for the EUR/JPY cross.
(The technical analysis of this story was written with the help of an AI tool.)
EUR/JPY daily chart
Japanese Yen Price This week
The table below shows the percentage change of Japanese Yen (JPY) against listed major currencies this week. Japanese Yen was the strongest against the US Dollar.
| USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | -0.46% | -0.29% | -3.23% | -0.72% | -1.73% | -0.69% | -0.79% | |
| EUR | 0.46% | 0.18% | -2.84% | -0.26% | -1.28% | -0.23% | -0.33% | |
| GBP | 0.29% | -0.18% | -2.70% | -0.44% | -1.45% | -0.41% | -0.51% | |
| JPY | 3.23% | 2.84% | 2.70% | 2.64% | 1.60% | 2.69% | 2.46% | |
| CAD | 0.72% | 0.26% | 0.44% | -2.64% | -0.91% | 0.05% | -0.07% | |
| AUD | 1.73% | 1.28% | 1.45% | -1.60% | 0.91% | 1.06% | 0.97% | |
| NZD | 0.69% | 0.23% | 0.41% | -2.69% | -0.05% | -1.06% | -0.10% | |
| CHF | 0.79% | 0.33% | 0.51% | -2.46% | 0.07% | -0.97% | 0.10% |
The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the Japanese Yen from the left column and move along the horizontal line to the US Dollar, the percentage change displayed in the box will represent JPY (base)/USD (quote).
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.