EUR/JPY Price Forecast: Holds ground near 184.00, 50-day EMA
EUR/JPY remains flat after registering minor gains in the previous day, trading around 183.90 during the Asian hours on Friday. The currency cross is holding above the short-term nine-period Exponential Moving Average (EMA) but remaining capped by the medium-term 50-period EMA.
EUR/JPY remains stagnant near 184.00, closely aligned with the 50-day Exponential Moving Average (EMA). During Friday's Asian trading session, the currency pair traded around 183.90. While the pair holds above the nine-period EMA, it is capped by the medium-term 50-period EMA. A near-neutral 14-day Relative Strength Index (RSI) of 48.21 indicates a consolidative tone with a mild bearish bias.
The pair may attempt to break below the nine-day EMA at 183.59, which could strengthen the bearish bias and push the currency cross toward its eight-month low of 179.37. Conversely, a sustained break above the 50-day EMA near 184.49 could signal a bullish reversal, potentially opening the path for the pair to retest its all-time high of 187.95, reached on April 17.
Written by urgent.news from FXStreet's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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