EUR/JPY
Current Quote:
186.74
EUR/JPY - BULLISH
1. Fundamental & Macro Flow
EUR/JPY trades at 186.74 on 25/07/2026, advancing within the bullish structure supported by the carry trade, with the ECB (2.40% refi) vs BoJ (1.0%) rate differential unchanged after this week's decisions — the ECB held on July 23 and the BoJ is expected to hold on July 31. The pair is closing in on the 187.95 all-time high (17 April), driven by the same yen-weakness flow keeping USD/JPY above its former 40-year high.
2. Technical Architecture
Main Trend
The pair maintains its bullish momentum, advancing within the 186.44-186.88 range and closing in on the all-time high.
Critical Liquidity Zones
Nearest Macro Support:
186.30 (base of the current session), with 185.90 as secondary support.
186,30 (base da sessão atual), com 185,90 como suporte secundário.
Nearest Macro Resistance:
187.60 (intermediate technical objective), with 187.95 as the all-time high.
187,60 (objetivo técnico intermediário), com 187,95 como máxima histórica.
Price Action Behavior
A bullish rejection at the 186.30-186.50 zone would confirm trend continuation, opening the way to test the 187.95 all-time high.
3. Strategic Verdict & Trade Setup
BUY (LONG) ON PULLBACK
Risk/Reward Ratio
1:3.10
Entry Trigger
Bullish rejection (pin bar / bullish engulfing) at the 186.30-186.50 zone, with a daily close holding above 186.30.
Stop Loss (Invalidation)
185.90 (Below the secondary support).
Take Profit (Target)
187.95 (All-time high).
Final Justification
The rate differential, still favorable to the carry trade with both central banks holding this week, supports the bullish bias toward the all-time high. The rejection at 186.30-186.50 offers entry with a protected stop and 1:3.10 R/R toward 187.95.