Key Moments
- EUR/JPY traded around 185.90 during Asian hours on Thursday after three consecutive sessions of gains.
- The pair is holding above its nine-period and 50-period EMAs, with a 14-day RSI near 56 signaling constructive bullish momentum.
- An upside break of the ascending triangle ceiling near 186.10 could open a path toward the 187.95 all-time high.
EUR/JPY Holds Bullish Tone Near Triangle Resistance
EUR/JPY eased modestly after three straight days of advances, changing hands near 185.90 during Asian trading on Thursday. Despite the pullback, the cross maintains a positive technical tone as it continues to trade above both the nine-period and 50-period Exponential Moving Averages (EMAs).
The 14-day Relative Strength Index (RSI) hovering around 56 points to upward momentum that remains favorable without yet signaling stretched conditions. This configuration indicates that buyers still have the upper hand in the short term.
Ascending Triangle Signals Intensifying Upward Pressure
On the daily chart, EUR/JPY is trading close to the upper boundary of an ascending triangle formation, with that horizontal resistance situated around 186.10. Price action crowding along this ceiling indicates that buying interest is absorbing supply at that level, highlighting strong bullish pressure.
Shallower downside corrections within this pattern, combined with prices remaining pinned near the top of the range, suggest that an upside break of this technical structure may be in the making.
A clean daily close above the triangle’s upper boundary would normally be interpreted as a confirming signal for continued upside, potentially paving the way for a move toward the all-time high at 187.95, which was registered on April 17.
Support Levels and Downside Risks
On the downside, initial technical support is located at the nine-day EMA at 185.35. Below that, the 50-day EMA at 185.05 offers the next line of defense for buyers.
If selling extends further, the cross could retreat toward the ascending triangle’s lower boundary, currently around 184.70. A sustained break beneath that level would undermine the bullish pattern and shift focus to deeper supports, including the four-month low at 181.87, recorded on March 16, and the six-month low at 180.81.
EUR/JPY – Daily Chart Context
EUR/JPY is currently navigating a technically significant zone defined by the convergence of short-term moving averages and the ascending triangle resistance. The interaction between these supports and the overhead ceiling around 186.10 will likely be pivotal for the next directional move.
Euro Performance Against Major Currencies
The following table summarizes the percentage change of the Euro (EUR) against major currencies today. According to this snapshot, the Euro was the weakest versus the Japanese Yen.
| USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | 0.00% | 0.12% | -0.05% | 0.08% | 0.09% | 0.12% | 0.11% | |
| EUR | -0.00% | 0.11% | -0.04% | 0.08% | 0.19% | 0.13% | 0.10% | |
| GBP | -0.12% | -0.11% | -0.15% | -0.02% | 0.06% | 0.02% | 0.00% | |
| JPY | 0.05% | 0.04% | 0.15% | 0.09% | 0.20% | 0.16% | 0.15% | |
| CAD | -0.08% | -0.08% | 0.02% | -0.09% | 0.10% | 0.07% | 0.05% | |
| AUD | -0.09% | -0.19% | -0.06% | -0.20% | -0.10% | -0.01% | -0.05% | |
| NZD | -0.12% | -0.13% | -0.02% | -0.16% | -0.07% | 0.01% | -0.03% | |
| CHF | -0.11% | -0.10% | -0.01% | -0.15% | -0.05% | 0.05% | 0.03% |
The heat map should be read by selecting the base currency from the left-hand column and the quote currency from the top row. For instance, choosing the Euro on the left and moving across to the US Dollar column provides the percentage move for EUR (base)/USD (quote).
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