- The EUR/JPY crossover could lead to further declines when analyzing the daily chart for possible trends.
- A correction will be normal when the 14-day RSI drops below the 30 level.
- Key support levels on the downside appear to be near the psychological price of 159.00.
EUR/JPY extended losses for the second day in a row, trading around 159.60 in the Asian session on Wednesday. Analysis of the daily chart shows that the pair is in a downtrend, which indicates persistent volatility. The /JPY cross is bearish. A break below 30 will signal oversold conditions and lead to a correction.
On the support side, the EUR/JPY crossover is likely to find major support near the 159.00 psychological level, the lower end of the downtrend channel, and then follow the two-month low of 158.10 set on September 30. that allowed it to break above the 11-month low set in December 2023 at 154.41.
On the upside, the EUR/JPY cross is likely to reach the bearish upper bound near the 9-day exponential moving average (EMA) at 161.80, followed by the 14-day EMA at 162.43. A clear break above these levels would cause the momentum to switch from bearish to bullish and support a pullback from the four-month high of 166.69, last seen on October 31.
EUR/JPY: Daily Chart
Euro PRICE Today
The chart below shows today’s percentage change for the Euro (EUR) against major currencies. The Euro fell sharply against the New Zealand dollar.
| USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | 0.02% | -0.10% | -0.46% | 0.05% | -0.21% | -0.61% | -0.14% | |
| EUR | -0.02% | -0.13% | -0.46% | 0.02% | -0.24% | -0.64% | -0.14% | |
| GBP | 0.10% | 0.13% | -0.36% | 0.15% | -0.11% | -0.50% | -0.04% | |
| JPY | 0.46% | 0.46% | 0.36% | 0.49% | 0.23% | -0.17% | 0.31% | |
| CAD | -0.05% | -0.02% | -0.15% | -0.49% | -0.26% | -0.68% | -0.18% | |
| AUD | 0.21% | 0.24% | 0.11% | -0.23% | 0.26% | -0.40% | 0.09% | |
| NZD | 0.61% | 0.64% | 0.50% | 0.17% | 0.68% | 0.40% | 0.47% | |
| CHF | 0.14% | 0.14% | 0.04% | -0.31% | 0.18% | -0.09% | -0.47% |
