EUR/JPY Price Prediction: Bullish Momentum Above 166.50 Supports Uptrend

EUR/JPY Price Prediction: Bullish Momentum Above 166.50 Supports Uptrend

By tredu.com 6/18/2025

Tredu

Bank of Japan Rate HikeForex PredictionEUR/JPY
EUR/JPY Price Prediction: Bullish Momentum Above 166.50 Supports Uptrend

EUR/JPY Price Prediction: Bullish Scenario in Contention Above 166.50

EUR/JPY edged higher to around 166.80 during Wednesday’s early European trading session. The pair benefits from a softer Japanese Yen due to reduced expectations of a Bank of Japan (BoJ) rate hike.

Technical Analysis Supports Bullish Outlook

The pair remains firmly supported above the crucial 100-day Exponential Moving Average (EMA) on the daily chart. The Relative Strength Index (RSI) stands near 66.00, signaling sustained bullish momentum in the short term.

Key Levels to Watch

  • Resistance: Immediate resistance is at 167.75, marking the upper Bollinger Band boundary. A decisive break here could extend gains towards 168.02, the high from July 26.
  • Psychological Barrier: Beyond this, the significant round figure of 170.00 acts as a major target for bulls.
  • Support: On the downside, 166.02 is the first critical support level.

Internal Linking Suggestions for Tredu.com:

  • EUR/JPY Technical Analysis and Forecast
  • Bank of Japan Monetary Policy Updates
  • Forex Trading Strategies
  • Understanding RSI and EMA Indicators
Free Guide Cover

How to Trade Like a Pro

Unlock the secrets of professional trading with our comprehensive guide. Discover proven strategies, risk management techniques, and market insights that will help you navigate the financial markets confidently and successfully.