- The EUR/JPY could test the new annual maximum in 170.61, marked on Thursday.
- The 14 -day RSI remains about 70, indicating overcompra conditions and the possibility of downward correction.
- The 9 -day EMA of 169.39 would act as the main support.
The EUR/JPY retreats after reaching maximums of one year on Thursday, quoting around 170.10 during Friday’s Asian hours. The bullish bias is being strengthened since the technical analysis of the daily chart shows that the Crosses Crossing moves up into the Ascending Canal pattern.
Market prospects remain bullish since the 14 -day relative force index (RSI) continues to hover the 70th mark. However, operators can act cautiously, since the torque seems overcompared and a possible downward correction could be on the horizon. In addition, the impulse of the short -term price is stronger since the EUR/JPY crossing is maintained above the 9 -day exponential mobile average (EMA).
On the positive side, the EUR/JPY crossing could try the annual maximum in 170.61, which was recorded on July 3. A successful rupture above this level would reinforce the bullish bias and support the crossroads to test the upper limit of the upward channel around 172.10.
The initial support seems to be in the 9 -day EMA of 169.39. New falls would weaken the impulse of the short -term price and exert the downward pressure on the EUR/JPY crossing to fall towards the lower limit of the ascending channel around 167.50, followed by the 50 -day EMA in 165.83. A break below the 50 -day EMA would weaken the impulse of the price in the medium term and lead to the pair to navigate the area around the “setback resistance” in 161.00
EUR/JPY: Daily graphic
Euro price today
The lower table shows the percentage of euro change (EUR) compared to the main currencies today. Euro was the weakest currency against the Japanese yen.
| USD | EUR | GBP | JPY | CAD | Aud | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | -0.19% | -0.18% | -0.39% | -0.08% | 0.04% | -0.07% | -0.31% | |
| EUR | 0.19% | 0.04% | -0.17% | 0.14% | 0.11% | 0.10% | -0.08% | |
| GBP | 0.18% | -0.04% | -0.24% | 0.11% | 0.09% | 0.07% | -0.12% | |
| JPY | 0.39% | 0.17% | 0.24% | 0.32% | 0.30% | 0.24% | -0.01% | |
| CAD | 0.08% | -0.14% | -0.11% | -0.32% | -0.02% | -0.02% | -0.21% | |
| Aud | -0.04% | -0.11% | -0.09% | -0.30% | 0.02% | -0.06% | -0.21% | |
| NZD | 0.07% | -0.10% | -0.07% | -0.24% | 0.02% | 0.06% | -0.18% | |
| CHF | 0.31% | 0.08% | 0.12% | 0.01% | 0.21% | 0.21% | 0.18% |
The heat map shows the percentage changes of the main currencies. The base currency is selected from the left column, while the contribution currency is selected in the upper row. For example, if you choose the euro of the left column and move along the horizontal line to the US dollar, the percentage change shown in the box will represent the EUR (base)/USD (quotation).
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.
