EUR/JPY Price Forecast: Trades near 181.50 after rebounding from eight-month lows
EUR/JPY gains ground after three days of losses, trading around 181.50 during the Asian hours on Tuesday. The currency cross is maintaining a bearish near-term tone as it holds beneath both the nine-day and 50-day Exponential Moving Averages (EMAs).
EUR/JPY price rebounds from eight-month lows, trading around 181.50 following three days of losses. The currency pair is currently maintaining a bearish near-term tone, trading beneath both the nine-day and 50-day Exponential Moving Averages. Technical analysts suggest that the EUR/JPY cross may retest the initial support at the eight-month low of 179.37 and could potentially rise toward the nine-day EMA at 183.62 and the 50-day EMA at 184.90.
However, Rabobank strategists caution that JPY net shorts have reached their highest levels since 2024, indicating that positioning may change significantly in the next data release.
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