Category: Forex News, News
EUR/JPY Price Forecast: Could rebound toward 186.50 as bullish bias prevails
EUR/JPY depreciates after three days of gains, trading around 186.20 during the Asian hours on Wednesday. The currency cross holds a constructive bullish bias as it remains above both the nine-day and 50-day Exponential Moving Averages (EMAs). This positioning suggests the recent advance is supported by underlying demand.
The 14-day Relative Strength Index (RSI) near 60 hints at firm but not yet overextended upside momentum. Additionally, the technical analysis of the daily chart suggests the EUR/JPY cross is remaining within the ascending channel pattern, suggesting an ongoing bullish bias.
The EUR/JPY cross may explore the region around the all-time high of 187.95, recorded on April 17, followed by the upper boundary of the ascending channel around 188.30.
On the downside, the primary support lies at the nine-day EMA of 185.66, followed by the 50-day EMA of 185.18. A break below these moving averages would cause a bearish shift, exposing the lower boundary of the ascending channel near 184.70. Further declines could push the EUR/JPY cross to test its nearly four-month low of 181.87, recorded on March 16, with further declines targeting the six-month low of 180.81, reached on February 12.
(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 weakest against the Swiss Franc.
| USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | -0.03% | -0.01% | -0.08% | 0.02% | 0.05% | 0.01% | -0.13% | |
| EUR | 0.03% | 0.01% | -0.06% | 0.03% | 0.08% | 0.08% | -0.10% | |
| GBP | 0.01% | -0.01% | -0.06% | 0.03% | 0.11% | 0.05% | -0.08% | |
| JPY | 0.08% | 0.06% | 0.06% | 0.08% | 0.12% | 0.05% | -0.02% | |
| CAD | -0.02% | -0.03% | -0.03% | -0.08% | 0.04% | -0.00% | -0.11% | |
| AUD | -0.05% | -0.08% | -0.11% | -0.12% | -0.04% | -0.02% | -0.13% | |
| NZD | -0.01% | -0.08% | -0.05% | -0.05% | 0.00% | 0.02% | -0.11% | |
| CHF | 0.13% | 0.10% | 0.08% | 0.02% | 0.11% | 0.13% | 0.11% |
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).
Written by : Editorial team of BIPNs
Main team of content of bipns.com. Any type of content should be approved by us.
Share this article: