EUR/JPY Eyes Crucial Break Above 184.00—Is a Major Rally Imminent?
What could possibly be more cringe-worthy than your mother-in-law turning your wedding dance into her personal show? Missing out on a potential trend continuation pattern in the markets—that’s what! As wild as that sounds, the EUR/JPY pair is gearing up to extend its longer-term upward march after a brief pullback last week. Yup, the charts on the 4-hour timeframe are practically waving a flag, signaling fresh opportunities and tempting traders with sights set on new 2026 highs. With the euro flexing gains against softer currencies and the yen stumbling amid political jitters, the question isn’t just if this trend will follow through—but will you spot it before it leaps? Time to sharpen those eyes, check the fundamentals, and consider how this unfolding drama in forex might just be your next big play. LEARN MORE.
You know what’s worse than your mother-in-law “hijacking” your wedding?
Missing a potential trend continuation pattern!
That’s right, EUR/JPY looks ready to extend a longer-term trend after pulling back last week!
Here’s what we’re seeing on the 4-hour time frame:
EUR/JPY 4-hour Forex Chart by TradingView
The euro had a mixed start to the week, gaining ground against relatively weaker currencies like the U.S. dollar and Japanese yen, but losing ground to the Swiss franc and commodity-related currencies as traders priced in higher commodity prices.
The Japanese yen, meanwhile, was the weakest major currency on Monday as markets reacted to political and economic uncertainty tied to possible snap elections and the risk of looser fiscal policies.
Will these themes continue to play out in the next trading sessions?
Remember that directional biases and volatility conditions in market price are typically driven by fundamentals. If you haven’t yet done your homework on the Euro and the Japanese yen, then it’s time to check out the economic calendar and stay updated on daily fundamental news!
EUR/JPY, which has been in an uptrend since ̶f̶o̶r̶e̶v̶e̶r̶ mid-2025, recently ran into resistance near 185.55 before sliding to 182.70, where it found more sustained support.
The pair is now trading comfortably above the 184.00 area, a zone that could attract fresh buying interest and open the door to new 2026 highs near 187.00 or even 188.00.
Trend followers looking to get involved could lean on the recent run of green candlesticks, or wait for a clean break above the R1 Pivot Point near the 185.00 psychological handle for clearer confirmation that the uptrend is back on track.
On the flip side, a drop back below the 184.00 zone could set up a retest of the 182.70 support area, with room for a deeper pullback toward sub 182.00 levels if downside momentum builds.
Whichever bias you end up trading, don’t forget to practice proper risk management and stay aware of top-tier catalysts that could influence overall market sentiment.
Disclaimer:
Please be aware that the technical analysis content provided herein is for informational and educational purposes only. It should not be construed as trading advice or a suggestion of any specific directional bias. Technical analysis is just one aspect of a comprehensive trading strategy. The technical setups discussed are intended to highlight potential areas of interest that other traders may be observing. Ultimately, all trading decisions, risk management strategies, and their resulting outcomes are the sole responsibility of each individual trader. Please trade responsibly.
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