EUR/JPY Price Forecast: Spinning tops warn bulls near 180.00
The EUR/JPY drops by about 0.08% on Thursday, forming back-to-back spinning tops near the 180.00 area, the top of a consolidation range capped to the downside by 178.00. At the time of writing, the cross-pair trades at 179.02, below its opening price.
The EUR/JPY currency pair experiences a drop of around 0.08% on Thursday, forming two consecutive spinning tops near the 180.00 level. This consolidation range is capped on the downside by 178.00. At present, the cross-pair trades at 179.02, which is below its opening price. The appearance of these spinning tops suggests that buyers have reached a point of exhaustion, indicating that the pair may struggle to rise.
The Relative Strength Index (RSI) shows that sellers are becoming more active, as it is likely to turn oversold three times in September. For a downward trend, the EUR/JPY needs to surpass the September 16 low of 178.71. Below this level, there are further support levels at the September 14 low of 177.85, the November 5, 2025, low of 175.70, and the 175.00 level.
Conversely, for a rise, the EUR/JPY must rise above 180.00 before aiming for the next resistance level, the 50-day Simple Moving Average (SMA) of 183.58.
Written by urgent.news from FXStreet's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
This story
This is one outlet's version. Read the fullest account.
