EUR/JPY Price Forecast: Steadies near 184.00 amid neutral bias
- EUR/JPY could find immediate support at the nine-day EMA at 183.46.
- The 14-day Relative Strength Index at 48.21 signals neutral momentum.
- Primary resistance sits at the 50-day EMA at 184.54.
EUR/JPY moves little for the second successive day, trading around 183.90 during the Asian hours on Wednesday. The currency cross is maintaining a mildly bearish near-term tone as it slips beneath the 50-day Exponential Moving Average (EMA) while holding above the shorter nine-day EMA. This alignment suggests the recent bounce is vulnerable to renewed selling while intraday dips still find some demand.
The 14-day Relative Strength Index (RSI) at 48.21 sits close to its midline, hinting at neutral momentum that neither strongly favors a continuation lower nor an immediate bullish reversal.
The primary support lies at the nine-day EMA at 183.46. A successful break below the short-term moving average would reinforce the bearish bias and put downward pressure on the EUR/JPY cross to fall toward the eight-month low of 179.37, reached on August 3, followed by the nine-month low of 175.70.
On the upside, the EUR/JPY cross could rise toward the primary resistance at the 50-day EMA at 184.54. Further advances above the medium-term moving average would cause a bullish emergence and support the currency cross to explore the region around the all-time high of 187.95, which was recorded on April 17.
Yen steadies as intervention gains hold after recent slide
Strategists at Scotiabank note that the Yen is holding firm after the latest bout of volatility, with the currency “steady and showing signs of stabilization following Monday’s worrisome decline that hinted to renewed pressure and a rapid reversal of its recent intervention-driven gains.” They suggest the current price action indicates those intervention gains are, for now, being preserved despite lingering market concerns.
(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 | 0.07% | 0.00% | 0.08% | 0.05% | 0.11% | 0.24% | 0.17% | |
| EUR | -0.07% | -0.06% | 0.00% | -0.02% | 0.02% | 0.18% | 0.10% | |
| GBP | -0.01% | 0.06% | 0.04% | 0.03% | 0.06% | 0.24% | 0.16% | |
| JPY | -0.08% | 0.00% | -0.04% | -0.03% | 0.01% | 0.15% | 0.09% | |
| CAD | -0.05% | 0.02% | -0.03% | 0.03% | 0.04% | 0.20% | 0.12% | |
| AUD | -0.11% | -0.02% | -0.06% | -0.01% | -0.04% | 0.16% | 0.12% | |
| NZD | -0.24% | -0.18% | -0.24% | -0.15% | -0.20% | -0.16% | -0.06% | |
| CHF | -0.17% | -0.10% | -0.16% | -0.09% | -0.12% | -0.12% | 0.06% |
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.
