EUR/JPY Price Forecast: Reaches fresh record highs near 188.00
- EUR/JPY cross reached an all-time high of 187.83 on Friday.
- The 14-day Relative Strength Index is at 71, hinting at a possible corrective consolidation.
- The primary support lies at the nine-day EMA of 186.76.
EUR/JPY gains after registering little losses in the previous day, trading at 187.83, an all-time high, during the Asian hours on Friday. The technical analysis of the daily chart indicates the currency cross is trending higher within an ascending channel, signaling a persistent bullish bias.
The EUR/JPY cross retains a bullish near-term bias as it holds above both the nine-day and 50-day Exponential Moving Averages (EMAs). The rising EMAs suggest underlying demand remains in control.
The 14-day Relative Strength Index (RSI) stands in overbought territory near 71, hinting that upside momentum is strong but vulnerable to bouts of corrective consolidation.
The EUR/JPY cross may target the immediate resistance at the psychological level of 188.00, followed by the upper boundary of the ascending channel around 188.50.
On the downside, the EUR/JPY cross may find its primary support at the nine-day EMA of 186.76. A move below this level could weaken the short-term price momentum, exposing the lower ascending channel boundary around 185.80, followed by the 50-day EMA at 184.46.
(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 strongest against the Japanese Yen.
| USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | -0.02% | 0.01% | 0.18% | -0.09% | -0.10% | 0.05% | -0.05% | |
| EUR | 0.02% | 0.02% | 0.17% | -0.09% | -0.07% | 0.06% | -0.05% | |
| GBP | -0.01% | -0.02% | 0.13% | -0.12% | -0.11% | 0.03% | -0.06% | |
| JPY | -0.18% | -0.17% | -0.13% | -0.25% | -0.26% | -0.12% | -0.21% | |
| CAD | 0.09% | 0.09% | 0.12% | 0.25% | -0.01% | 0.13% | 0.04% | |
| AUD | 0.10% | 0.07% | 0.11% | 0.26% | 0.00% | 0.14% | 0.05% | |
| NZD | -0.05% | -0.06% | -0.03% | 0.12% | -0.13% | -0.14% | -0.10% | |
| CHF | 0.05% | 0.05% | 0.06% | 0.21% | -0.04% | -0.05% | 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.
