Created
: 2025.07.29
- English
- English
- What's Myforex
- Share
- Use tools
- Get information
- What's New
- Help center
- About us
- Customer support
- Terms and policies
-
-
PortfolioShare your portfolio and performance in real time -
Events & contestsEvents and contests held by retail brokers around the world
-
-
Real-time spread comparisonCompare spreads of major retail brokers in real time -
Volatility analysisVisualize volatility as a measure of daily market activity -
Swap point comparisonCompare buy and sell swap values for each broker by symbol -
Market rates & chartsCheck prices for all instruments offered by each broker -
IndicatorsProviding in-house developed indicators for MT4/MT5 -
Trading calculatorsCalculation tools for each broker to help you trade
-
-
World FX newsLatest news on forex and cryptocurrencies from around the world -
Broker informationTrading information of retail brokers worldwide -
MetaTrader4/5 user guideUser guide collection for the latest MetaTrader4/5 -
Economic calendarRelease calendar for indicators from official sources of major economies
EUR/JPY Price Forecast: Retreats further from yearly top; seems vulnerable below 172.00
World FX news
Breaking news
EUR/JPY Price Forecast: Retreats further from yearly top; seems vulnerable below 172.00
New
2025.07.29 13:33
2025.07.29 13:33
2025.07.29 13:33
- EUR/JPY attracts some follow-through sellers for the second straight day on Tuesday.
- The EUR remains depressed despite the US-EU trade deal and weighs on spot prices.
- The emergence of some JPY buying further contributes to the ongoing corrective slide.
The EUR/JPY cross extends the previous day's retracement slide from the vicinity of the 174.00 mark, or a fresh one-year high, and drifts lower for the second consecutive day on Tuesday. Spot prices drop to the 171.80 region during the Asian session and seem vulnerable to slide further.
The shared currency continues with its relative underperformance amid worries that the trade deal between the US and the European Union (EU) was unbalanced. Furthermore, the market anxiety heading into this week's key central bank event risks is seen benefiting the safe-haven Japanese Yen (JPY) and exerts some downward pressure on the EUR/JPY cross.
From a technical perspective, spot prices now seem to have found acceptance below the 100-period Simple Moving Average (SMA) on the 4-hour chart. Moreover, oscillators on the said chart have been gaining negative traction and are still far from being in the oversold zone. This, in turn, validates the near-term bearish outlook for the EUR/JPY cross.
Hence, a subsequent fall towards an intermediate support near the 171.60 region, en route to last week's swing low around the 171.35 area, looks like a distinct possibility. Some follow-through selling could make the EUR/JPY cross vulnerable to weaken further below the 171.00 round figure, towards testing the next relevant support near the 170.40 region.
On the flip side, any attempted recovery might now confront immediate resistance near the 172.25-172.30 zone ahead of the 172.65-172.70 area. A sustained strength beyond should allow the EUR/JPY cross to reclaim the 173.00 mark and climb further towards the 173.30-173.35 hurdle. The momentum could extend towards the 174.00 neighborhood, or the yearly top.
EUR/JPY 4-hour chart
Tariffs FAQs
Tariffs are customs duties levied on certain merchandise imports or a category of products. Tariffs are designed to help local producers and manufacturers be more competitive in the market by providing a price advantage over similar goods that can be imported. Tariffs are widely used as tools of protectionism, along with trade barriers and import quotas.
Although tariffs and taxes both generate government revenue to fund public goods and services, they have several distinctions. Tariffs are prepaid at the port of entry, while taxes are paid at the time of purchase. Taxes are imposed on individual taxpayers and businesses, while tariffs are paid by importers.
There are two schools of thought among economists regarding the usage of tariffs. While some argue that tariffs are necessary to protect domestic industries and address trade imbalances, others see them as a harmful tool that could potentially drive prices higher over the long term and lead to a damaging trade war by encouraging tit-for-tat tariffs.
During the run-up to the presidential election in November 2024, Donald Trump made it clear that he intends to use tariffs to support the US economy and American producers. In 2024, Mexico, China and Canada accounted for 42% of total US imports. In this period, Mexico stood out as the top exporter with $466.6 billion, according to the US Census Bureau. Hence, Trump wants to focus on these three nations when imposing tariffs. He also plans to use the revenue generated through tariffs to lower personal income taxes.
Last updated
: 2025.07.29
Related articles
Lutnick: Deals are on the table for Trump to consider
6 minutes agoEUR/GBP weakens as US-EU trade deal backlash weighs on Euro sentiment
17 minutes agoUS Dollar extends trade-driven rally as markets await key US economic data
2025.07.29 21:12JPY quiet at range low ahead of BoJ later in week - Scotiabank
2025.07.29 20:57GBP flat and also attempting stabilization - Scotiabank
2025.07.29 20:55EUR steady following Monday's drop - Scotiabank
2025.07.29 20:52
FXStreet is a forex information website, delivering market analysis and news articles 24/7.
It features a number of articles contributed by well-known analysts, in addition to the ones by its editorial team.
Founded in 2000 by Francesc Riverola, a Spanish economist, it has grown to become a world-renowned information website.
Was this article helpful?
We hope you find this article useful. Any comments or suggestions will be greatly appreciated.
We are also looking for writers with extensive experience in forex and crypto to join us.
please contact us at [email protected].
Thank you for your feedback.
Thank you for your feedback.
Most viewed
Lutnick: Deals are on the table for Trump to consider
US Commerce chief Howard Lutnick stated on Tuesday that President Trump is set to make his trade deal decisions this week, despite ongoing negotiations with China and the European Union, ahead of the August 1 deadline.
New
2025.07.29 22:24EUR/GBP weakens as US-EU trade deal backlash weighs on Euro sentiment
The Euro (EUR) continues to weaken against the British Pound (GBP) for a second consecutive day on Tuesday, dragged down by rising backlash to the US‑EU trade deal announced over the weekend.
New
2025.07.29 22:12US Dollar extends trade-driven rally as markets await key US economic data
The US Dollar (USD) is holding firm on Tuesday after posting its strongest single-day gain since May, rallying 1.0% on Monday. The rally came after the United States (US) and European Union (EU) announced a major trade deal framework on Sunday.
New
2025.07.29 21:12JPY quiet at range low ahead of BoJ later in week - Scotiabank
The Japanese Yen (JPY) is entering Tuesday's NA session unchanged against the US Dollar (USD) as it consolidates its recent decline to the lower end of its multi-month range, Scotiabank's Chief FX Strategists Shaun Osborne and Eric Theoret note.
New
2025.07.29 20:57GBP flat and also attempting stabilization - Scotiabank
The Pound Sterling (GBP) is entering Tuesday's NA session unchanged against the US Dollar (USD) as it also seeks to attempt stabilization following a recent pullback, Scotiabank's Chief FX Strategists Shaun Osborne and Eric Theoret note.
New
2025.07.29 20:55EUR steady following Monday's drop - Scotiabank
The Euro (EUR) is attempting stabilization in the mid/-upper 1.15s as it seeks to consolidate Monday's sizeable 1.3% decline against the US Dollar (USD), Scotiabank's Chief FX Strategists Shaun Osborne and Eric Theoret note.
New
2025.07.29 20:52USD/CNH: Expected to continue to rise - UOB Group
US Dollar (USD) is expected to continue to rise against Chinese Yuan (CNH); the major resistance at 7.1910 could be out of reach for now.
New
2025.07.29 20:50CAD retains a soft undertone - Scotiabank
The Canadian Dollar (CAD) is little changed on the session but retains a soft undertone after spending most of the week so far on the back foot against the US Dollar (USD), Scotiabank's Chief FX Strategists Shaun Osborne and Eric Theoret note.
New
2025.07.29 20:47USD/JPY: 149.20 is unlikely to come under threat - UOB Group
US Dollar (USD) could advance further against Japanese Yen (JPY); the major resistance at 149.20 is unlikely to come under threat. In the longer run, price action indicates that USD could rise toward 149.20, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.
New
2025.07.29 20:44USD advance shows signs of stalling - Scotiabank
The US Dollar (USD) has seen a solid advance so far this week as trade deals, or at least their outlines, are reached and US/China trade talks resume.
New
2025.07.29 20:42Disclaimer:
All information and content provided on this website is provided for informational purposes only and is not intended to solicit any investment. Although all efforts are made in order to ensure that the information is correct, no guarantee is provided for the accuracy of any content on this website. Any decision made shall be the responsibility of the investor and Myforex does not take any responsibility whatsoever regarding the use of any information provided herein.
The content provided on this website belongs to Myforex and, where stated, the relevant licensors. All rights are reserved by Myforex and the relevant licensors, and no content of this website, whether in full or in part, shall be copied or displayed elsewhere without the explicit written permission of the relevant copyright holder. If you wish to use any part of the content provided on this website, please ensure that you contact Myforex.
Myforex uses cookies to improve the convenience and functionality of this website. This website may include cookies not only by us but also by third parties (advertisers, log analysts, etc.) for the purpose of tracking the activities of users. Cookie policy
