Forex
Home›Forex›Major Pairs›EUR/JPY edges up near 184.65 but faces clustered resis…
EUR/JPY edges up near 184.65 but faces clustered resistance
The pair trades around 184.65, with upside capped by resistance at 184.80-184.85, while a daily break above could open the way toward 186.12.
The EUR/JPY cross was trading higher in Asian hours on Monday, around 184.65, but FXStreet said the move is likely limited as price action remains capped by a cluster of nearby resistance.
The upside is restrained by the 184.80-184.85 area, which aligns with the Bollinger 20-day middle band and the 100-day simple moving average. FXStreet noted that a daily close above that zone would be needed to ease the near-term downside bias and potentially expose the upper Bollinger band near 186.12.
On the downside, the first key level cited is 183.53, marked by the lower Bollinger band. FXStreet said a break below 183.53 would likely reinforce the bearish tone and open the door to a deeper corrective slide.
The brief also pointed to macro and positioning factors behind the currency dynamics, including safe-haven demand tied to heightened Middle East geopolitical tensions and speculation about domestic asset shifts that could support the Japanese yen versus the euro. It added that Japan’s Finance Minister Satsuki Katayama said the government is pursuing measures that would include the Government Pension Investment Fund to make substantially greater investments in Japanese financial assets.