The EUR/JPY cross is trading in negative territory around 181.05 during Friday’s early European session. The Japanese Yen is seeing some strength against the Euro, possibly influenced by recent verbal intervention from Japanese officials. Market participants are now looking towards Germany’s Retail Sales and Consumer Price Index (CPI) inflation data, due for release later today.
Technical Analysis (EUR/JPY Daily Chart):
Currently at 181.04, EUR/JPY maintains a solid position above its rising 100-EMA at 174.71, indicating a sustained medium-term uptrend, further supported by the recent steepening of the average’s slope. The RSI, at 63.77, shows firm but not overbought momentum, having slightly cooled from 65.56.
Trading above the middle Bollinger Band and nearing the upper band (182.67), with widening bands, signals continued bullish pressure and increased volatility. A daily close above the upper band could extend gains, while a drop below 179.41 would expose the support zone between 176.15 and 174.71.
On the daily chart, EUR/JPY is currently trading at 181.04. The pair remains significantly above its rising 100-EMA at 174.71, indicating a sustained medium-term uptrend. The recent steepening of the 100-EMA’s slope further reinforces bullish control. The Relative Strength Index (RSI) stands at 63.77, suggesting firm but not overbought momentum, with a slight easing from 65.56.
Price action is observed above the middle Bollinger Band and leaning towards the upper band at 182.67. The widening of the Bollinger Bands points to continued bullish pressure and increased volatility. A daily close above the upper band could signal further advances. Conversely, a retreat below 179.41 would likely bring the support zone of 176.15–174.71 into play.