S&P 500 — US Large Cap Index
FTSE 100 — UK Blue Chips
Euro Stoxx 50 — Eurozone Leaders
DAX 40 — German Equities
CAC 40 — French Market Index
Nikkei 225 — Japan Benchmark
Hang Seng — Hong Kong Index
Shanghai Composite — China Mainland
ASX 200 — Australian Market
TSX Composite — Canada Index
Nifty 50 — India Large Cap
STI Index — Singapore Market
KOSPI — South Korea Index
Bovespa — Brazil Equities
JSE Top 40 — South Africa Index
IPC Index — Mexico Market
- EUR/JPY finds immediate support at its nine-day EMA of 183.49.
- The 14-day Relative Strength Index at 47.11 signals neutral-to-soft momentum.
- The Primary resistance sits at the 50-day EMA at 184.51.
EUR/JPY extends its losses for the third successive day, trading around 183.60 during the Asian hours on Thursday. The 14-day Relative Strength Index (RSI) at 47.11 reinforces a neutral-to-soft momentum backdrop rather than a decisive directional push.
The EUR/JPY cross is retaining a mildly bearish near-term bias as it holds below the 50-day Exponential Moving Average (EMA) while trading just above the nine-day EMA. This split in moving averages suggests the currency cross is capped by medium-term trend resistance despite nearby short-term support.
The EUR/JPY cross faces immediate support at its nine-day Exponential Moving Average of 183.49. A decisive break below this short-term indicator would strengthen the prevailing bearish bias, potentially pressing the currency cross down toward its eight-month low of 179.37, recorded on August 3. If downward momentum continues, the next key technical target lies at the nine-month low of 175.70.
A turn to the upside would see EUR/JPY cross head toward primary resistance at its 50-day EMA near 184.51. Clearing this medium-term hurdle could signal a broader bullish resurgence, opening the path for the pair to retest the area surrounding its all-time peak of 187.95 set on April 17.
Analysts at Scotiabank note that, while “there have been no comments from FinMin Katayama or ViceMin Mimuri,” local media coverage is increasingly “highlighting the potential for tension between US officials and Japan’s government as the US pushes for BoJ tightening.”
