EUR/JPY Price Forecast: Falls to near 183.00 near symmetrical triangle bottom
- EUR/JPY tests the immediate support at the lower boundary of the symmetrical triangle around 182.90.
- The 14-day Relative Strength Index at 37.31 signals slowing downside momentum.
- The initial barrier is the nine-day EMA at 184.72.
EUR/JPY extends its losses for the second successive day, trading around 183.00 during the Asian hours on Thursday. Technical analysis of the daily chart indicates the currency cross remains within a symmetrical triangle, signalling a consolidation phase.
However, the EUR/JPY cross is retaining a bearish near-term bias as it holds beneath both the nine-period and 50-period Exponential Moving Averages (EMAs). The short- and medium-term EMAs now cap the topside and suggest that rallies are likely to be sold, while the 14-day Relative Strength Index (RSI) at 37.31 is edging toward oversold territory, hinting that downside momentum is slowing rather than reversing.
The EUR/JPY cross tests the immediate support at the lower boundary of the symmetrical triangle around 182.90. A break below the triangle would strengthen the bearish bias and put downward pressure on the cross to navigate the region around the nine-month low of 179.37, recorded on August 3.
On the upside, the EUR/JPY cross could target the initial barrier at the nine-day EMA of 184.72, aligned with the 50-day EMA of 184.76. Further resistance lies at the upper boundary of the symmetrical triangle around 185.80. A break above the triangle could support the currency cross to reach the all-time high of 187.95 set on April 17.
(The technical analysis of this story was written with the help of an AI tool. Know more.)
Euro Price Today
The table below shows the percentage change of Euro (EUR) against listed major currencies today. Euro was the weakest against the Japanese Yen.
| USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | -0.07% | -0.07% | -0.62% | -0.09% | -0.02% | -0.23% | -0.13% | |
| EUR | 0.07% | 0.00% | -0.57% | -0.07% | 0.07% | -0.21% | -0.06% | |
| GBP | 0.07% | -0.00% | -0.55% | -0.06% | 0.06% | -0.19% | -0.07% | |
| JPY | 0.62% | 0.57% | 0.55% | 0.52% | 0.61% | 0.34% | 0.49% | |
| CAD | 0.09% | 0.07% | 0.06% | -0.52% | 0.08% | -0.17% | -0.04% | |
| AUD | 0.02% | -0.07% | -0.06% | -0.61% | -0.08% | -0.26% | -0.10% | |
| NZD | 0.23% | 0.21% | 0.19% | -0.34% | 0.17% | 0.26% | 0.17% | |
| CHF | 0.13% | 0.06% | 0.07% | -0.49% | 0.04% | 0.10% | -0.17% |
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 Euro from the left column and move along the horizontal line to the US Dollar, the percentage change displayed in the box will represent EUR (base)/USD (quote).
Author
Akhtar Faruqui
FXStreet
Akhtar Faruqui is a Forex Analyst based in New Delhi, India. With a keen eye for market trends and a passion for dissecting complex financial dynamics, he is dedicated to delivering accurate and insightful Forex news and analysis.
