EUR/JPY traded near 176 during Asian trading Thursday, while technical readings from FXStreet and Investing.com differed ahead of the Bank of Japan’s scheduled policy statement on Oct. 30.
FXStreet reported the pair at 175.90 at 11:16 p.m. ET Wednesday (03:16 UTC Thursday), after it gained in the previous session. The European Central Bank (ECB)’s reference rate was 175.86 yen per euro on Oct. 28. That daily benchmark was close to FXStreet’s reading, but it was not an intraday quote.
EconoTimes previously covered the euro’s earlier move toward ¥176 against the yen.
FXStreet’s chart put both the nine-day and 50-day exponential moving averages (EMAs) above the pair’s quote, with the 50-day measure higher than the nine-day. The outlet described the near-term chart setup as bearish and placed its 14-day Relative Strength Index (RSI) near 35.
FXStreet identified 175.10 as support, close to Investing.com historical data showing a low of 175.09 on Oct. 23. It put the next support area near 174.60, at the lower edge of a descending channel, and listed resistance at 176.32, the nine-day EMA; 178.20, the channel’s upper edge; and 178.99, the 50-day EMA.
At 12:46 a.m. ET Thursday (04:46 UTC), Investing.com showed the pair at 175.83 and its 14-day RSI at 44.886. The site’s technical-analysis page did not specify the chart interval, so its RSI reading may not be directly comparable with FXStreet’s. The two quoted exchange rates, taken about 90 minutes apart, were both close to 176. FXStreet disclosed that its analysis was prepared with AI assistance.
At its Sept. 18 decision, the Bank of Japan (BOJ) set a target of about 1.25% for the overnight call rate, effective Sept. 24. The bank said underlying inflation was approaching its 2% target.
The BOJ calendar lists a policy meeting for Oct. 29-30 and the monetary-policy statement and October outlook for Oct. 30; it has not set release times.
