EUR/JPY Price Forecast: Pulls back toward 185.50 near nine-day EMA
- EUR/JPY faces primary resistance at its six-week high of 186.21.
- The 14-day Relative Strength Index near 54 indicates neutral-to-positive momentum.
- The primary support appears at the nine-day EMA of 185.39.
EUR/JPY depreciates after two days of gains, trading around 185.60 during the early European hours on Tuesday. The currency cross holds a mild bullish bias as it trades above the nine-day and 50-day Exponential Moving Averages (EMAs).
Meanwhile, the 14-day Relative Strength Index (RSI) around 54 sits in neutral territory, hinting at a constructive but not overstretched upside tone as long as price remains supported above the medium-term average.
Additionally, the technical analysis of the daily chart suggests the EUR/JPY cross is moving within the ascending channel pattern, suggesting an ongoing bullish bias.
The EUR/JPY cross may find the primary resistance at the six-week high of 186.21, reached on June 5. Further advances would lead the currency cross to approach the all-time high of 187.95, recorded on April 17, followed by the upper boundary of the ascending channel around 188.20.
On the downside, the immediate support lies at the nine-day EMA of 185.39, followed by the 50-day EMA of 185.12. Further declines below these moving averages would trigger a bearish shift, exposing the lower boundary of the ascending channel near 184.70. Extended downward momentum could push the EUR/JPY cross to test its nearly four-month low of 181.87, recorded on March 16, with further declines targeting the six-month low of 180.81, reached on February 12.
(The technical analysis of this story was written with the help of an AI tool.)
Euro Price Today
The table below shows the percentage change of Euro (EUR) against listed major currencies today. Euro was the weakest against the US Dollar.
| USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | 0.02% | 0.04% | -0.02% | 0.13% | 0.22% | 0.15% | 0.04% | |
| EUR | -0.02% | 0.03% | 0.00% | 0.12% | 0.21% | 0.13% | 0.03% | |
| GBP | -0.04% | -0.03% | -0.02% | 0.10% | 0.17% | 0.12% | 0.01% | |
| JPY | 0.02% | 0.00% | 0.02% | 0.12% | 0.20% | 0.16% | 0.06% | |
| CAD | -0.13% | -0.12% | -0.10% | -0.12% | 0.08% | 0.00% | -0.09% | |
| AUD | -0.22% | -0.21% | -0.17% | -0.20% | -0.08% | -0.06% | -0.15% | |
| NZD | -0.15% | -0.13% | -0.12% | -0.16% | -0.01% | 0.06% | -0.10% | |
| CHF | -0.04% | -0.03% | -0.01% | -0.06% | 0.09% | 0.15% | 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 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.
