- The EUR/JPY extends the strong bullish movement of the previous day in the middle of a weakest JPY.
- The disappointing macroeconomic data of Japan and a positive tone of risk weakens the JPY.
- The technical configuration favors the bulls and supports the case for greater appreciation.
The EUR/JPY crossing attracts some monitoring for the second consecutive day on Friday and quotes about half of the 164.00, approaching the European session. Cash prices remain close to a maximum of more than three weeks reached on Thursday and are well backed by a Japanese yen (JPY) in general weaker.
The disappointing publication of the spending data of Japan’s households joins a fall in the real salaries of Japan for the fourth consecutive month and concerns that global commercial tensions can weaken the salary impulse. This is expected to complicate the efforts of the Bank of Japan (BOJ) to normalize monetary policy, which, together with commercial optimism, weakens the jpy of safe refuge and acts as a tail wind for the EUR/JPY crossing.
From a technical perspective, the recent repeated failures to find acceptance below the very important simple mobile (SMA) of 200 days and the subsequent upward movement favor the upward operators. In addition, the oscillators in the daily chart remain in positive territory and are still far from being in the overcompra zone. This, in turn, suggests that the least resistance path for the EUR/JPY crossing is upwards.
Therefore, some monitoring force towards the round figure of 165.00, en route to the area of 165.20 or the maximum of the year reached in May, seems a different possibility. The impulse could then raise the EUR/JPY crossing above the intermediate obstacle of 165.60-165.65 before the Alcistas finally aim to recover the 166.00 mark for the first time since November 2024.
On the other hand, the minimum oscillating daily, around the area of 164.25-164.20, could offer immediate support to the EUR/JPY crossing before the round figure of 164.00 and the region of 163.70-163.65. Any additional weakness could be seen as a purchase opportunity and is more likely to remain limited near the 163.00 brand. The latter should act as a key point, which if it is broken, could change the short -term trend in favor of the bearish operators.
EUR/JPY DAILY GRAPH
And in Japanese price today
The lower table shows the rate of change of Japanese Yen (JPY) compared to the main currencies today. Yen Japanese was the strongest currency in front of the Japanese yen.
| USD | EUR | GBP | JPY | CAD | Aud | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | 0.12% | 0.16% | 0.33% | -0.07% | 0.19% | -0.09% | 0.21% | |
| EUR | -0.12% | 0.06% | 0.20% | -0.18% | 0.02% | -0.19% | 0.10% | |
| GBP | -0.16% | -0.06% | 0.12% | -0.23% | -0.03% | -0.25% | 0.04% | |
| JPY | -0.33% | -0.20% | -0.12% | -0.35% | -0.02% | -0.29% | -0.18% | |
| CAD | 0.07% | 0.18% | 0.23% | 0.35% | 0.25% | -0.01% | 0.27% | |
| Aud | -0.19% | -0.02% | 0.03% | 0.02% | -0.25% | -0.21% | 0.10% | |
| NZD | 0.09% | 0.19% | 0.25% | 0.29% | 0.00% | 0.21% | 0.28% | |
| CHF | -0.21% | -0.10% | -0.04% | 0.18% | -0.27% | -0.10% | -0.28% |
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 Japanese yen from the left column and move along the horizontal line to the US dollar, the percentage change shown in the picture will represent the JPY (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.
