EURJPY Breakout Eyes 185.30 Target, 17 August 2026

EUR/JPY has broken decisively above the 184.00 resistance zone, opening the door for further upside toward the next target at 185.30, according to technical analysis published on FinanceFeeds.

The breakout area is notable because it combines two key technical markers: the 184.00 level, which had acted as former support and had been reversing the pair lower since June, and the 61.8% Fibonacci retracement of the previous sharp downward impulse wave 5 that began in late July. The pair's push through this confluence zone has accelerated the active intermediate impulse wave (3), which forms part of the primary impulse wave 1 that started in late July.

The analysis suggests that the strength of the current impulse wave, coupled with widespread yen weakness across global currency markets, should help EUR/JPY continue its advance. The pair is now expected to test the 185.30 level, which previously served as support in mid-July and has now become the next resistance target on the upside.

Market participants are watching whether the pair can sustain momentum above the breakout zone. A firm hold above 184.00 would reinforce the bullish technical setup, while a move toward 185.30 would represent a significant continuation of the current trend. Yen selling remains a dominant theme in the broader fx market, and EUR/JPY is among the currency pairs benefiting from that dynamic.

This technical assessment is based on price action and fibonacci levels, and should be treated as one analyst's interpretation rather than a recommendation to buy or sell. Traders are advised to account for their own risk tolerance and to use appropriate stop-loss strategies when trading around these key levels.