|

EUR/JPY Price Forecast: Spinning tops warn bulls near 180.00

  • EUR/JPY forms back-to-back spinning tops near 180.00 resistance.
  • RSI turns lower as sellers regain short-term momentum.
  • Break below 178.71 exposes 177.85 and 175.70 next.

The EUR/JPY drops by about 0.08% on Thursday, forming back-to-back spinning tops near the 180.00 area, the top of a consolidation range capped to the downside by 178.00. At the time of writing, the cross-pair trades at 179.02, below its opening price.

EUR/JPY Price Forecast: Technical Outlook

The formation of two spinning tops indicates that buyers faced a zone of exhaustion, suggesting the cross might struggle to register a leg-up. Momentum as measured by the Relative Strength Index (RSI) shows that sellers are stepping in, as the index is set to turn to oversold thrice in September.

For a bearish continuation, the EUR/JPY needs to clear the September 16 low of 178.71. Beneath this area is the September 14 low of 177.85, then the November 5, 2025, low of 175.70, followed by 175.00.

On the other hand, for a bullish resumption, EUR/JPY needs to climb above 180.00 before challenging the next key resistance level, the 50-day Simple Moving Average (SMA) at 183.58.

EUR/JPY Price Chart – Daily

EUR/JPY daily chart

Japanese Yen Price This week

The table below shows the percentage change of Japanese Yen (JPY) against listed major currencies this week. Japanese Yen was the strongest against the New Zealand Dollar.

USDEURGBPJPYCADAUDNZDCHF
USD1.06%1.27%1.56%0.90%0.74%1.47%1.03%
EUR-1.06%0.19%0.47%-0.16%-0.31%0.42%-0.06%
GBP-1.27%-0.19%0.29%-0.35%-0.50%0.23%-0.27%
JPY-1.56%-0.47%-0.29%-0.66%-0.84%-0.11%-0.58%
CAD-0.90%0.16%0.35%0.66%-0.13%0.62%0.07%
AUD-0.74%0.31%0.50%0.84%0.13%0.73%0.27%
NZD-1.47%-0.42%-0.23%0.11%-0.62%-0.73%-0.50%
CHF-1.03%0.06%0.27%0.58%-0.07%-0.27%0.50%

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 Japanese Yen from the left column and move along the horizontal line to the US Dollar, the percentage change displayed in the box will represent JPY (base)/USD (quote).

Author

Christian Borjon Valencia

Markets analyst, news editor, and trading instructor with over 14 years of experience across FX, commodities, US equity indices, and global macro markets.

More from Christian Borjon Valencia
Share:

Editor's Picks

AUD/USD flatlines below 0.7050 as bulls await RBA rate decision on Tuesday

AUD/USD reverses an Asian session dip on Monday as renewed optimism over Iran diplomacy boosts investor confidence, keeping a lid on the safe-haven US Dollar and supporting the risk-sensitive Aussie. Spot prices, however, remain below the one-month high, touched last Thursday, as bulls wait for the crucial RBA decision before taking fresh positions.



USD/JPY advances to 157.75 as BoJ uncertainty weighs on the JPY

USD/JPY regains positive traction during the Asians session on Monday, building on Friday's bounce from sub-157.00 levels as the uncertainty over the timing of the next BoJ rate hike undermines the Japanese Yen. Meanwhile, hopes for Middle East diplomacy cap the safe-haven US Dollar and the currency pair amid speculation that authorities will step in to support the Japanese Yen.

Gold struggles to build on recovery from one-year low beyond $3,900

Gold kicks off the week on a positive note, recovering slightly from its lowest level since October 2025, touched on Friday, as hopes for Iran diplomacy cap the US Dollar. However, Fed rate-hike bets keep a lid on the non-yielding bullion as focus shifts to key US macro releases scheduled at the start of the new month, including the ISM Manufacturing later today and the NFP report on Friday.


Week ahead: Nonfarm Payrolls and US midterm elections take center stage
The US dollar traded higher against most of its peers this week, beginning the week on a solid footing amid expectations of a hawkish FOMC decision on Wednesday. Although market participants were convinced that a rate hike was off the table, they were on the lookout for clues and hints on whether they were correct in nearly fully pricing in a 25bps rate hike in December.
Middle East War updates: Iran warns of expanded strikes against US despite progress in talks

Here’s a brief recap of the key developments in the Middle East war that occurred over the weekend, which are expected to have a significant impact on markets in the upcoming week.

The 2% inflation target came from a throwaway remark. It now moves trillions
The Federal Reserve's 2% inflation goal grew out of an off-the-cuff remark by a New Zealand politician in 1988. Bond investors still price long-term US debt as if 2% holds, so a change in how the Fed measures inflation would move markets.