- EUR/JPY finds support at the bottom of the Ichimoku cloud, with trading limited at the upper border at 161.45.
- Bearish momentum is observed; faces resistance at 161.00 and 50-day SMA at 161.75.
- A drop below the Ichimoku cloud could test deeper supports at 156.16 and 154.39.
EUR/JPY bottomed near 159.69 and rose above 160.50 on Friday after posting two consecutive days of losses as risk appetite deteriorated. At the time of writing, the cross pair is trading at 160.82, up 0.69%.
EUR/JPY Price Forecast: Technical Outlook
EUR/JPY trades sideways, capped lower by the Ichimoku (Kumo) cloud near the daily low and reached the Kumo top at 161.45.
Although the momentum is slightly bearish, with the Relative Strength Index (RSI) below its neutral level, sellers must push EUR/JPY below the Kumo bottom towards 159.00.
A break of the latter will exacerbate a test of the December 3 swing low of 156.16. With further weakness, 156.00 is next, followed by the August 5 swing low of 154.39.
To the upside, first resistance is 161.00, range top at 161.45, and 50-day SMA at 161.75. Once surpassed, the next stop would be the 162.00 mark.
EUR/JPY Price Chart – Daily
Euro PRICE Today
The table below shows the percentage change of the Euro (EUR) against the main currencies today. Euro was the strongest currency against the Japanese Yen.
| USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | -0.02% | 0.31% | 0.51% | 0.05% | -0.12% | 0.01% | 0.24% | |
| EUR | 0.02% | 0.33% | 0.61% | 0.06% | -0.09% | 0.04% | 0.26% | |
| GBP | -0.31% | -0.33% | 0.27% | -0.26% | -0.41% | -0.29% | -0.07% | |
| JPY | -0.51% | -0.61% | -0.27% | -0.52% | -0.70% | -0.56% | -0.34% | |
| CAD | -0.05% | -0.06% | 0.26% | 0.52% | -0.18% | -0.03% | 0.19% | |
| AUD | 0.12% | 0.09% | 0.41% | 0.70% | 0.18% | 0.14% | 0.35% | |
| NZD | -0.01% | -0.04% | 0.29% | 0.56% | 0.03% | -0.14% | 0.22% | |
| CHF | -0.24% | -0.26% | 0.07% | 0.34% | -0.19% | -0.35% | -0.22% |
The heat map shows percentage changes for major currencies. The base currency is selected from the left column, while the quote currency is selected from the top row. For example, if you choose the Euro from the left column and move along the horizontal line to the US Dollar, the percentage change shown in the box will represent EUR (base)/USD (quote).
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
