EUR/JPY Price Forecast: Rises to near 185.00 after breaking above 50-day EMA
- EUR/JPY could test the immediate support at the 50-day EMA of 184.52.
- The 14-day Relative Strength Index at 52.89 remains neutral with a subtle bullish tilt.
- Primary resistance is set at the upper boundary of the rising wedge around 186.10.
EUR/JPY extends its winning streak for the fourth successive day, trading around 184.80 during the Asian hours on Tuesday. The technical analysis of a daily chart indicates that the spot is remaining within a rising wedge, signaling that an upward trend is losing momentum and typically acts as a bearish reversal.
The EUR/JPY cross holds above both the 50-period and nine-period Exponential Moving Averages (EMAs), which keeps the near-term bias constructive. The clustering of price just over these short- and medium-term EMAs suggests ongoing demand on dips, while the 14-day Relative Strength Index (RSI) around 52.89 stays in neutral territory with a mild bullish tilt, hinting that upside momentum is steady rather than stretched.
The EUR/JPY cross is positioned slightly above the 50-day EMA at 184.52, followed by the lower boundary of the rising wedge around 184.60 and the nine-day EMA of 184.03. A decisive break below this confluence support zone would revive the bearish bias, potentially pressing the currency cross down toward its eight-month low of 179.37, recorded on August 3.
On the upside, the primary resistance lies at the upper boundary of the rising wedge around 186.10. A sustained break above the wedge could signal a broader bullish resurgence, opening the path for the currency cross to retest the area surrounding its all-time peak 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 strongest against the New Zealand Dollar.
| USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | 0.08% | 0.07% | 0.18% | 0.00% | 0.05% | 0.37% | 0.09% | |
| EUR | -0.08% | -0.01% | 0.11% | -0.08% | -0.03% | 0.29% | 0.04% | |
| GBP | -0.07% | 0.00% | 0.09% | -0.06% | -0.02% | 0.32% | 0.04% | |
| JPY | -0.18% | -0.11% | -0.09% | -0.17% | -0.12% | 0.20% | -0.07% | |
| CAD | 0.00% | 0.08% | 0.06% | 0.17% | 0.05% | 0.37% | 0.10% | |
| AUD | -0.05% | 0.03% | 0.02% | 0.12% | -0.05% | 0.32% | 0.05% | |
| NZD | -0.37% | -0.29% | -0.32% | -0.20% | -0.37% | -0.32% | -0.25% | |
| CHF | -0.09% | -0.04% | -0.04% | 0.07% | -0.10% | -0.05% | 0.25% |
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.
