Why is EUR/JPY down 0.5% today?

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Euro vs yen slips 0.57% today

Highlights

EUR/JPY trades below all key moving averages at ¥176.35, with persistent seller pressure across all timeframes.
Technical momentum indicators generate strong sell signals, with downside dominance and intraday selling bias pronounced.
Expected trading range for the next five sessions is ¥175.47 to ¥177.23, with a 75% probability of a downward move.

Anton Kharitonov, expert at Traders Union, notes clear dominance by sellers in EUR/JPY. He sees the pair trading well below major moving averages, with technicals signaling persistent downside. The absence of supportive news further weakens sentiment. Momentum indicators all point to reinforced bearish bias. "With no positive triggers and sustained technical weakness, a deeper correction in EUR/JPY remains the prevailing risk," Kharitonov cautions.

Viktoras Karapetjanc, expert at Traders Union, observes sellers driving short-term pressure but believes volatility creates new setups. He acknowledges the downside bias but points out that any move above ¥176.4 could reawaken bullish opportunities. He views medium-term consolidation as constructive for future entries. "If EUR/JPY stabilizes and breaks resistance, further growth and tactical gains could quickly materialize," Karapetjanc asserts.

Sholanke Dele, market strategist, emphasizes the severity of the technical downtrend. He sees confidence sapped by the absence of positive catalysts and deep short-term oversold signals. Dele is skeptical that buyers will return soon. "Market conviction is lacking, and fresh lows are more likely unless sentiment shifts rapidly," Dele warns.

Sustained bearish momentum as technical signals intensify downside pressure

EUR/JPY remains decisively below all key moving averages, with the current price at ¥176.35 under the 20-day (¥178.31), 50-day (¥180.75), and 200-day (¥183.77) averages, highlighting persistent downward pressure from sellers across short- to long-term horizons. Immediate resistance is defined by the near-term ceiling at ¥176.4, while the next support is the near-term floor at ¥175.47. The medium- to long-term trend bias is bearish, confirmed by the alignment of the 50-day and 200-day averages. Momentum signals are heavily tilted to the downside. MACD produces a Strong Sell signal, with ADX also forecasting a Sell and confirming the strength behind the trend. The RSI is at 41.02, indicating ongoing selling momentum, while the CCI is firmly negative at -74.68. Stochastic RSI reads 80.58 in overbought territory, revealing a near-term divergence within oversold momentum. Bull/Bear Power is negative, explicitly showing sellers dominate the intraday session, with an oversold bias.

Earlier, analysts noted that EUR/JPY was under sustained downside pressure, with technical weakness and a bearish outlook shaping expectations. The current analysis strengthens this view, highlighting reinforced selling momentum and signaling that a decisive break below ¥175.47 would open the risk of renewed losses.

Source of Data: EUR Price Analysis by TU

The analysis is based on a proprietary model combining technical, on-chain, and expert data. Not investment advice. See methodology

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