EUR/JPY Price Forecast: Trades around 176.00 after rebounding from fresh 12-month lows
- EUR/JPY recorded a fresh 12-month low of 175.20 on Friday.
- The 14-day Relative Strength Index is at 34.76, indicating moderate, non-extreme downward momentum.
- The initial barrier lies at the nine-day EMA of 176.98.
EUR/JPY gains ground after two days of losses, trading around 176.10 during Asian hours on Friday. Technical analysis of the daily chart shows the currency cross remains within a descending channel pattern, indicating a persistent bearish bias.
The EUR/JPY cross is extending a corrective tone as it holds beneath the nine- and 50-period Exponential Moving Averages (EMAs). The currency cross remains capped by this layered dynamic resistance, keeping the near-term bias bearish, while the 14-day Relative Strength Index (RSI) at 34.76 sits just above oversold territory and hints that downside momentum is still present but not extreme.
The EUR/JPY cross reached the 12-month low of 175.20 on Friday. Further support lies at the lower boundary of its descending channel around 175.00. Further declines below this confluence support zone would open the doors for the currency cross to navigate the region around the 15-month low at 169.72.
On the upside, the primary barrier lies at the nine-day EMA of 176.98, followed by the upper boundary of the descending channel near 178.70. Further resistance lies at the 50-day EMA of 179.54. A move above the medium-term price average would cause a bullish reversal, supporting the EUR/JPY cross to explore the area around the all-time high of 187.95, reached on April 17.
BoJ’s Himino flags AI-driven inflation risks, keeping Yen on alert
BoJ’s Himino scores 8.2/10 on FXS Speechtracker, exactly in line with the historic average, signaling a consistently firm tone rather than a surprise shift. Emphasis on strong AI-related capex and exports, rising medium- and long-term inflation expectations, and underlying inflation nearing the 2% target point to a clearly hawkish bias that contrasts with still-accommodative financial conditions and low real rates.
The warning that postponing policy changes could heighten upside price risks and damage the economy reinforces expectations that the Bank of Japan is edging closer to further normalization. For FX, the combination of rapid bank lending, elevated inflation risks, and a stated aim to secure stable prices via suitable monetary policy supports a gradual move away from ultra-easy settings, a backdrop that is mildly supportive for the Yen if backed by concrete action.
(The technical analysis of this story was written with the help of an AI tool. Know more.)
Euro Price Today
The table below shows the percentage change of Euro (EUR) against listed major currencies today. Euro was the strongest against the Japanese Yen.
| USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | 0.03% | 0.04% | 0.13% | -0.00% | 0.04% | -0.22% | 0.09% | |
| EUR | -0.03% | 0.02% | 0.11% | -0.04% | -0.01% | -0.25% | 0.06% | |
| GBP | -0.04% | -0.02% | 0.08% | -0.04% | -0.02% | -0.26% | 0.04% | |
| JPY | -0.13% | -0.11% | -0.08% | -0.15% | -0.11% | -0.37% | -0.06% | |
| CAD | 0.00% | 0.04% | 0.04% | 0.15% | 0.05% | -0.23% | 0.09% | |
| AUD | -0.04% | 0.01% | 0.02% | 0.11% | -0.05% | -0.26% | 0.05% | |
| NZD | 0.22% | 0.25% | 0.26% | 0.37% | 0.23% | 0.26% | 0.31% | |
| CHF | -0.09% | -0.06% | -0.04% | 0.06% | -0.09% | -0.05% | -0.31% |
The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the Euro from the left column and move along the horizontal line to the US Dollar, the percentage change displayed in the box will represent EUR (base)/USD (quote).
Nothing in this material constitutes investment advice, personal recommendation, investment research, an offer, or a solicitation to buy or sell any financial instrument. The content has been prepared without consideration of your individual investment objectives, financial situation, or needs, and should not be treated as such.
Past performance is not a reliable indicator of future performance and/or results. Forward-looking scenarios or forecasts are not a guarantee of future performance. Actual results may differ materially from those anticipated.
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