Key Moments
- EUR/JPY has been rising for a third straight session, trading around 184.80 during Asian hours on Monday.
- The pair is squeezed between the nine-day EMA at 184.75 and the 50-day EMA at 184.86, signaling a neutral, indecisive setup.
- The 14-day RSI near 47 shows momentum has eased toward neutral, neither clearly overbought nor oversold.
Technical Overview: Neutral Tone Between Key EMAs
EUR/JPY is extending its advance for the third consecutive trading day, hovering around 184.80 during the Asian session on Monday. Daily chart signals point to a consolidative, neutral posture, with price holding just above the short-term nine-day Exponential Moving Average (EMA) but struggling to break through the 50-day EMA.
The pair is effectively caught in a narrow band defined by these two moving averages, with the primary nearby support at the nine-day EMA at 184.75 and immediate resistance at the 50-day EMA at 184.86. This compression underscores an indecisive backdrop following a recent pullback.
Momentum indicators align with this picture. The 14-day Relative Strength Index (RSI) is hovering around 47, indicating that buying pressure has moderated toward neutral territory rather than pointing to clear oversold conditions.
Upside Scenario: Focus on All-time High
On the topside, EUR/JPY is currently challenging the 50-day EMA at 184.86. A clear move above this medium-term barrier would be a constructive technical development, potentially reinforcing bullish momentum.
Should buyers gain traction above the 50-day EMA, the cross could turn its focus toward the area around the all-time peak at 187.95, which was registered on April 17.
Downside Risks: Watching Short-term Support Levels
On the downside, the cross is trading marginally above its nine-day EMA at 184.75, which represents the first layer of short-term support. A sustained break below this level would likely signal a shift toward a more bearish tone and invite additional selling pressure.
In that case, EUR/JPY could be drawn toward a cluster of prior lows. The first notable downside reference is the region around a nearly 11-week low at 181.87, recorded on March 16. Below that, attention would turn to the five-month low at 180.81, set on February 12.
EUR/JPY Daily Chart
EUR/JPY: Daily Chart
Euro Performance Against Major Currencies
The table below details the percentage changes of the Euro (EUR) against a basket of major currencies today. According to this snapshot, the Euro has shown the strongest relative performance versus the New Zealand Dollar.
| USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | 0.25% | 0.32% | 0.31% | 0.10% | 0.22% | 0.36% | 0.34% | |
| EUR | -0.25% | 0.07% | 0.04% | -0.18% | -0.01% | 0.12% | 0.08% | |
| GBP | -0.32% | -0.07% | -0.02% | -0.25% | -0.10% | 0.04% | 0.00% | |
| JPY | -0.31% | -0.04% | 0.02% | -0.21% | -0.04% | 0.07% | 0.03% | |
| CAD | -0.10% | 0.18% | 0.25% | 0.21% | 0.17% | 0.24% | 0.24% | |
| AUD | -0.22% | 0.01% | 0.10% | 0.04% | -0.17% | 0.11% | 0.09% | |
| NZD | -0.36% | -0.12% | -0.04% | -0.07% | -0.24% | -0.11% | -0.02% | |
| CHF | -0.34% | -0.08% | -0.00% | -0.03% | -0.24% | -0.09% | 0.02% |
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