EUR/JPY Price Forecast: Spinning tops warn bulls near 180.00

The article is mildly bearish for EUR/JPY in the short term, but it is not a fundamental catalyst. The back-to-back spinning tops near 180.00 indicate hesitation at a major psychological and technical barrier, while the weakening RSI suggests that upside momentum is fading. EUR/JPY was reported around 179.02, with 178.71 identified as the key confirmation level for a deeper pullback.

A sustained break below 178.71 would strengthen the downside case and could shift market focus toward 177.85, then 175.70. Such a move would imply renewed demand for the yen relative to the euro and could be reinforced if Japanese yields rise, expectations for Bank of Japan tightening firm, or broader carry-trade exposure is reduced. The effect may therefore extend beyond EUR/JPY to other yen crosses such as GBP/JPY and AUD/JPY, particularly if the move reflects wider risk aversion rather than euro-specific weakness.

Conversely, the bearish interpretation would be invalidated by a decisive recovery above 180.00. That would signal that the spinning tops represented consolidation rather than exhaustion, reopening the technical path toward the reported 50-day moving average near 183.58.

The immediate market impact is likely to remain technical and flow-driven, rather than a broad repricing of euro or yen fundamentals. Traders should monitor whether 178.71 breaks on a closing basis, the behavior of USD/JPY and Japanese government-bond yields, BoJ policy expectations, and whether weakness is confined to EUR/JPY or spreads across the wider yen-cross complex. Until one of those developments confirms direction, the signal remains bearish-leaning but mixed rather than decisive.