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>>EUR/JPY Review: The key 185.00 barrier remains intact after a steep pullback from recent peaks

EUR/JPY Review: The key 185.00 barrier remains intact after a steep pullback from recent peaks

crypthub

about 3 hours ago

Technical Outlook

EUR/JPY fell from above 188.00 to near 185.00, a 150‑pip pullback. 185.00 aligns with the 50‑day SMA and a key psychological level. A break below may test 182.50, while a bounce eyes 186.50; RSI is exiting overbought.

Fundamental & Sentiment

The ECB’s cautious easing versus the BoJ’s gradual normalization widens the rate gap, favoring the Euro. Weak German data and easing Eurozone inflation pressure the Euro, while higher Japanese bond yields and BoJ warnings support the Yen. Extreme long Euro positions have been trimmed, boosting put demand and implied volatility.

Historical Perspective

Since 2020 the pair has risen on policy divergence, with the 188.00 breakout marking a decade‑high. Staying above 185.00 would keep the uptrend alive; a clear break could open a deeper correction toward 182.50. Past Japanese interventions imply a soft ceiling may reappear if Yen weakness escalates.