Key Moments
- EUR/JPY traded around 182.80 in European hours, extending its losing streak to a fourth straight session.
- The 14-day Relative Strength Index stood at 50.96, signaling muted momentum and a consolidative backdrop.
- Key resistance was located at the nine-day EMA of 183.44, while initial support was marked by the three-week low at 181.57.
Price Action and Macro Backdrop
EUR/JPY continued to edge lower for a fourth consecutive session, hovering near 182.80 during European trading on Wednesday. The cross remained under pressure after the latest German Retail Sales figures.
Year-over-year, Germany’s Retail Sales rose 1.1% in November, following a 0.9% increase in October. On a monthly basis, however, Retail Sales declined 0.6% in November, compared with a 0.3% fall in October and market expectations for a 0.2% rise.
Technical Picture: Momentum Cools, Consolidation Signals
Analysis of the daily chart showed the 14-day Relative Strength Index at 50.96, a neutral reading that underscores subdued momentum. EUR/JPY remained above its rising 50-day Exponential Moving Average, while price action was capped beneath a softening nine-day EMA, a combination that points to consolidation following the earlier advance.
The cross was seen potentially gravitating toward initial support at the three-week low of 181.57, which was set on December 17. Below that, the next key level was the 50-day EMA at 181.31. Staying above the 50-day EMA would preserve the medium-term bullish structure, while a clear break below the initial support could open the way to deeper downside levels.
Key Levels: Support and Resistance
On the topside, a rebound in EUR/JPY could target the nine-day EMA at 183.44 as the first resistance area. A sustained move above this level could reinvigorate bullish momentum and shift the focus back toward the all-time high at 184.95, registered on December 22, which coincides with the psychological barrier at 185.00.
EUR/JPY – Daily Chart Reference
EUR/JPY: Daily Chart
Euro Performance Against Major Currencies
The following table presents the percentage change of the Euro (EUR) against major currencies today. According to these readings, the Euro was weakest versus the Japanese Yen.
| USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | 0.06% | 0.04% | -0.09% | 0.11% | 0.00% | 0.11% | 0.09% | |
| EUR | -0.06% | -0.01% | -0.16% | 0.05% | -0.05% | 0.04% | 0.03% | |
| GBP | -0.04% | 0.00% | -0.15% | 0.06% | -0.04% | 0.06% | 0.04% | |
| JPY | 0.09% | 0.16% | 0.15% | 0.21% | 0.11% | 0.20% | 0.19% | |
| CAD | -0.11% | -0.05% | -0.06% | -0.21% | -0.10% | -0.01% | -0.02% | |
| AUD | -0.00% | 0.05% | 0.04% | -0.11% | 0.10% | 0.10% | 0.08% | |
| NZD | -0.11% | -0.04% | -0.06% | -0.20% | 0.00% | -0.10% | -0.02% | |
| CHF | -0.09% | -0.03% | -0.04% | -0.19% | 0.02% | -0.08% | 0.02% |
The heat map above shows percentage changes of major currencies against one another. The base currency is taken from the left-hand column, and the quote currency from the top row. For instance, selecting the Euro in the left column and moving horizontally to the US Dollar cell provides the percentage change for EUR (base)/USD (quote).
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