The EUR/JPY rate consolidates around 186.00, declines by 0.06% as risk appetite declines due to the escalation of the US-Iran war and strengthens sheltered haven assets such as the Japanese yen.
EUR/JPY Price Forecast: Technical Outlook
The EUR/JPY rate remains sideways after reaching a year-to-date (YTD) high of 187.95. The cross pair fell towards the 183.00 area after the recent intervention by the Bank of Japan (BoJ) and buyers have since reclaimed key resistance levels to reach the 186.00 level.
At the time of writing, EUR/JPY remains capped in the 186.00-187.00 range on concerns that Japanese authorities may intervene in foreign exchange markets. However, the bulls appear to be gaining momentum as indicated by the Relative Strength Index (RSI) in bullish territory.
Buyers need to clear 187.00 to break the year-to-date high of 187.95. After breaking through these levels, the next resistance will be the level of 189.00, located before the psychological level of 190.00.
On the other hand, if sellers push EUR/JPY below the July 20 low of 185.35, it will sharpen a move towards the 50-day straightforward moving average (SMA) of 185.20 and then the 100-day SMA of 185.05. Even lower is the 200-day SMA at 183.29.
EUR/JPY daily price chart
Today’s Japanese Yen price
The table below shows the current percentage change of the Japanese Yen (JPY) against the major listed currencies. The Japanese yen was strongest against the Swiss franc.
| USD | EUR | GBP | JPY | BOOR | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | 0.02% | -0.04% | 0.00% | 0.07% | -0.17% | -0.25% | 0.19% | |
| EUR | -0.02% | -0.08% | -0.06% | 0.00% | -0.25% | -0.34% | 0.12% | |
| GBP | 0.04% | 0.08% | 0.04% | 0.11% | -0.16% | -0.22% | 0.22% | |
| JPY | 0.00% | 0.06% | -0.04% | 0.08% | -0.19% | -0.27% | 0.17% | |
| BOOR | -0.07% | -0.01% | -0.11% | -0.08% | -0.27% | -0.35% | 0.10% | |
| AUD | 0.17% | 0.25% | 0.16% | 0.19% | 0.27% | -0.07% | 0.35% | |
| NZD | 0.25% | 0.34% | 0.22% | 0.27% | 0.35% | 0.07% | 0.43% | |
| CHF | -0.19% | -0.12% | -0.22% | -0.17% | -0.10% | -0.35% | -0.43% |
The heat map shows the percentage changes of the major currencies relative to each other. The base currency is selected from the left column and the quote currency from the top row. For example, if you select Japanese Yen from the left column and move along the horizontal line to the US Dollar, the percentage change displayed in the box will represent JPY (base)/USD (quote).
