EURJPY surges to a fresh record high

EURJPY surged to a fresh all-time high after a 1.1% jump in post-BoJ policy decision trading. The Japanese yen weakened broadly despite the Bank of Japan raising interest rates by 25 basis points to 0.75%—the highest level in three decades—while keeping the door open for further tightening.

The cross remains in a steep ascent over the past ten months, as part of a broader uptrend that has been in place since mid-2020. Today’s advance marked the strongest daily gain since April 7.

The move into uncharted territory brings the focus to 185.00, followed by 185.93, the 150% Fibonacci projection of the rally from 154.40. However, a shallow corrective pause cannot be ruled out, with daily RSI nearing overbought conditions.

Any pullbacks are expected to find solid support in the 183.00 zone, which would signal positioning for another push higher. Only a sustained break and close below the 182.00 area—today’s low and the rising 10-day moving average—would begin to sideline the bullish bias.

Res: 185.00; 185.93; 187.00; 188.41
Sup: 184.00; 183.15; 182.20; 181.70