Key Moments
- EUR/JPY touched a new all-time high at 187.83 during Asian trading on Friday.
- The 14-day Relative Strength Index is at 71, indicating overbought conditions and potential consolidation.
- Initial downside support is identified at the nine-day EMA of 186.76, with further levels at 185.80 and 184.46.
EUR/JPY Hits Fresh Record High
EUR/JPY advanced during Asian hours on Friday, climbing to a record level of 187.83 after posting only modest losses in the prior session. The daily chart shows the pair moving higher within an ascending channel, underscoring a firmly bullish technical backdrop.
Price action remains supported by an upward-sloping structure, suggesting that buying interest continues to dominate despite the latest stretch of gains.
Technical Setup: Trend and Momentum
The cross maintains a constructive near-term outlook as it continues to trade above both the nine-day and 50-day Exponential Moving Averages (EMAs). These rising EMAs point to persistent underlying demand and reinforce the prevailing uptrend.
Momentum indicators also highlight strong upside pressure. The 14-day Relative Strength Index (RSI) is positioned in overbought territory near 71, signaling robust bullish momentum while also warning of the risk of corrective consolidation following the recent surge.
Key Levels: Resistance and Support
On the upside, market participants are likely to focus on the psychological barrier at 188.00 as the next immediate resistance. A further push higher could bring the upper boundary of the ascending channel into view around 188.50.
On the downside, initial support is seen at the nine-day EMA, currently at 186.76. A decisive break below this area could undermine short-term momentum and open the door to a deeper pullback toward the lower edge of the ascending channel near 185.80, followed by the 50-day EMA at 184.46.
EUR/JPY – Daily Chart Reference
The current configuration of the daily chart, with price near the channel highs and oscillators in overbought territory, reflects a strong trend that may nonetheless be susceptible to near-term pauses or corrections.
Euro Performance Against Major Currencies
The table below summarizes the percentage changes of the Euro (EUR) versus other major currencies today. Euro showed its strongest relative performance against the Japanese Yen.
| USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | -0.02% | 0.01% | 0.18% | -0.09% | -0.10% | 0.05% | -0.05% | |
| EUR | 0.02% | 0.02% | 0.17% | -0.09% | -0.07% | 0.06% | -0.05% | |
| GBP | -0.01% | -0.02% | 0.13% | -0.12% | -0.11% | 0.03% | -0.06% | |
| JPY | -0.18% | -0.17% | -0.13% | -0.25% | -0.26% | -0.12% | -0.21% | |
| CAD | 0.09% | 0.09% | 0.12% | 0.25% | -0.01% | 0.13% | 0.04% | |
| AUD | 0.10% | 0.07% | 0.11% | 0.26% | 0.00% | 0.14% | 0.05% | |
| NZD | -0.05% | -0.06% | -0.03% | 0.12% | -0.13% | -0.14% | -0.10% | |
| CHF | 0.05% | 0.05% | 0.06% | 0.21% | -0.04% | -0.05% | 0.10% |
The heat map is read by selecting the base currency from the left-hand column and the quote currency from the top row. The percentage shown in each cell represents the change in the base currency relative to the quote currency. For instance, choosing the Euro along the left axis and moving across to the US Dollar cell displays the move in EUR (base)/USD (quote).
TradingPedia.com is a financial media specialized in providing daily news and education covering Forex, equities and commodities. Our academies for traders cover 
