EUR/JPY breaks out of multi-month range, eyes 168.40 target – Société Générale

FXStreet Insights Team FXStreet

EUR/JPY has broken above key technical resistance at 164.60, regaining upward momentum after months of consolidation. The pair now trades firmly above its 50-day moving average, with bullish MACD signaling further upside toward October 2024 highs and targets at 166.70–168.40, provided 164.60 holds as support, Société Générale's FX analysts note.

EUR/JPY clears 164.60 resistance, MACD signals renewed upside

"EUR/JPY has recently established itself above the 50-DMA and has now overcome the upper limit of the range within which it evolved since last December (164.60) highlighting regaining upward momentum. This is also denoted by the daily MACD, which remains anchored within positive territory."

"The pair may head higher gradually towards October 2024 high and projections near 166.70/167.10 and 168.40. Defence of the upper band of previous range at 164.60 will be crucial for persistence in up move."

Author

FXStreet Insights Team

FXStreet

The FXStreet Insights Team is a group of journalists that handpicks selected market observations published by renowned experts. The content includes notes by commercial as well as additional insights by internal and external analysts.

EUR/USD ticks higher to near 1.1800 ahead of German inflation data

EUR/USD trades marginally higher to near 1.1800 in the European session on Friday, helped by renewed US Dollar weakness. Attention now turns toward the release of the preliminary inflation data for February from Germany and its major states during the day.

GBP/USD struggles near 1.3500 amid UK political drama, BoE easing bias

GBP/USD struggles to build on the overnight modest bounce from the weekly low and oscillates in a narrow band near 1.3500 in European trading on Friday. The Gorton and Denton by-election, held on February 26, has become a focal point of political drama in the UK, along with the Bank of England (BoE) easing expectations, acts as a headwind for the British Pound and the GBP/USD pair.

Gold sticks to positive bias as safe-haven demand persists; $5,200 holds the key for bulls

Gold trades with positive bias for the third straight day on Friday, with bulls still awaiting sustained strength and acceptance above the $5,200 mark before positioning for any further gains. Geopolitical risks remain in play amid a large US naval and air power buildup in the Middle East.

Bitcoin, Ethereum and Ripple consolidate with short-term cautious bullish bias

Bitcoin, Ethereum and Ripple are consolidating near key technical areas on Friday, showing mild signs of stabilization after recent volatility. BTC holds above $67,000 despite mild losses so far this week, while ETH hovers around $2,000 after a rejection near its upper consolidation boundary.

Changing the game: International implications of recent tariff developments

The Supreme Court ruling on International Emergency Economic Powers Act (IEEPA) tariffs provides limited relief for the rest of the world, with weighted average tariff rates modestly lower.

Starknet unveils strkBTC, shielded Bitcoin transactions on Ethereum Layer 2

Starknet, the Ethereum Layer 2 network developed by StarkWare, today announced strkBTC, a wrapped Bitcoin asset that introduces optional shielding while preserving full DeFi composability.