EUR/JPY Price Forecast: Remains above 185.50 near moving averages
- The EUR/JPY cross may rise toward the all-time high of 187.95.
- The 14-day Relative Strength Index sits at 58.39, signaling strong upward momentum.
- The immediate support lies around the lower boundary of the ascending channel at 185.60.
EUR/JPY gains ground after posting minor losses in the previous day, trading around 185.70 during the Asian hours on Thursday. The technical analysis of a daily chart indicates that the currency cross is remaining within the ascending channel pattern, signaling an ongoing bullish bias.
The EUR/JPY cross is maintaining a bullish near-term bias as it holds above both the nine-and 50-period Exponential Moving Averages (EMAs). The currency cross is consolidating near recent highs, with the 14-day Relative Strength Index (RSI) at 58.39 hinting at constructive momentum without reaching overbought territory, suggesting dips could still attract buying interest while the broader uptrend stays intact.
The EUR/JPY cross may explore the region around the all-time high of 187.95 set on April 17, followed by the upper boundary of the ascending channel around 188.50.
On the downside, the EUR/JPY cross tests the immediate support around the lower boundary of the ascending channel at 185.60, followed by the nine-day EMA at 185.30 and the 50-day EMA at 184.77. A break below this confluence support zone may cause the bearish reversal, potentially pressing the currency cross down toward its nine-month low of 179.37, recorded on August 3.
(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 strongest against the British Pound.
| USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | -0.03% | 0.04% | 0.03% | 0.05% | -0.19% | -0.06% | 0.00% | |
| EUR | 0.03% | 0.08% | 0.04% | 0.06% | -0.15% | -0.13% | 0.03% | |
| GBP | -0.04% | -0.08% | -0.02% | -0.03% | -0.21% | -0.20% | -0.05% | |
| JPY | -0.03% | -0.04% | 0.02% | 0.00% | -0.20% | -0.21% | -0.02% | |
| CAD | -0.05% | -0.06% | 0.03% | 0.00% | -0.21% | -0.20% | -0.02% | |
| AUD | 0.19% | 0.15% | 0.21% | 0.20% | 0.21% | 0.03% | 0.17% | |
| NZD | 0.06% | 0.13% | 0.20% | 0.21% | 0.20% | -0.03% | 0.19% | |
| CHF | -0.01% | -0.03% | 0.05% | 0.02% | 0.02% | -0.17% | -0.19% |
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.
