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Holds the position at around 174.50 with an overbought condition

Holds the position at around 174.50 with an overbought condition
Holds the position at around 174.50 with an overbought condition

  • EUR/JPY is positioned in a rising wedge pattern, indicating a possible bearish trend reversal.
  • The 14-day RSI indicates that the currency is in an overbought condition.
  • The upper limit of the rising wedge around the 174.40 mark acts as immediate resistance.

EUR/JPY ends its three-day losing streak and trades around 174.30 during European trading hours on Tuesday. Analysis of the daily chart shows a rising wedge pattern, indicating a possible bearish reversal. Moreover, the 14-day Relative Strength Index (RSI) is above the 70 level, suggesting that the currency is overbought and could face a correction.

The Momentum indicator’s Moving Average Convergence Divergence (MACD) line is currently above both the midline and the signal line, indicating confirmation of bullish momentum. Traders can expect further moves and watch for possible momentum shifts in the EUR/JPY pair.

The EUR/JPY pair is facing potential resistance near the upper boundary of the rising wedge around the 174.40 level. A successful break above this level could strengthen the bullish bias and lead the pair towards the psychological level of 175.00.

On the downside, key support appears around the nine-day exponential moving average (EMA) at 173.52, followed by the lower boundary of the rising wedge around the 173.50 level. A break below the latter could put downward pressure on the EUR/JPY pair to navigate the region around the psychological level of 170.00.

A further decline could increase the selling pressure on the EUR/JPY currency pair to navigate the area around the throwback support at 167.60.

EUR/JPY: Daily chart

Euro price today

The following table shows the percentage change of the Euro (EUR) against major currencies today. The Euro was strongest against the New Zealand Dollar.

U.S. dollar EUR British Pound EUR CAD AUD NZD CHF
U.S. dollar 0.02% -0.02% 0.08% 0.00% -0.04% 0.12% 0.00%
EUR -0.02% -0.05% 0.07% -0.03% -0.06% 0.10% -0.02%
British Pound 0.02% 0.05% 0.12% 0.02% 0.01% 0.15% 0.02%
EUR -0.08% -0.07% -0.12% -0.10% -0.14% 0.00% -0.11%
CAD -0.00% 0.03% -0.02% 0.10% -0.06% 0.13% -0.01%
AUD 0.04% 0.06% -0.01% 0.14% 0.06% 0.14% 0.00%
NZD -0.12% -0.10% -0.15% -0.01% -0.13% -0.14% -0.12%
CHF -0.00% 0.02% -0.02% 0.11% 0.01% -0.00% 0.12%

The heatmap shows the percentage changes of the major currencies relative to each other. The base currency is selected from the left column, while the quote currency is selected from the top row. For example, if you select the euro from the left column and move along the horizontal line to the US dollar, the percentage change shown in the box corresponds to the EUR (base)/USD (quote) ratio.

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