EUR/JPY bulls have eyes for 134.32, the 61.8% fibo

Ross J Burland FXStreet

Currently, EUR/JPY is trading at 133.20, up 0.61% on the day, having posted a daily high at 133.46 and low at 132.40.

Despite a bearish picture unfolding for the euro after last week's bearish close vs the greenback, EUR/JPY has been taking advantage of the rally in US stocks and the abating risk-off sentiment in global markets as the N.Korean threat falls back to 'amber', for the time being, while no new news over the weekend was centred around such geopolitical tensions.

EUR/JPY rallied from 130.61 to aforementioned highs in line with USD/JPY flows from 109.55 recent low to 111.66 key resistance area as investors look for yield from riskier plays, pulling out of safe havens such as gold. Additionally, the euro was boosted overnight by not only EZ CPI that finalised at 1.5% y/y and with 1.3% core y/y beating 1.2% expected but also ECB's Hansson. He argued that the Central Bank's next move should be a recalibration of stimulus without caution in moving towards such a policy.

Why this Fed meeting won’t be a non-event - ING

EUR/JPY levels

EUR/JPY's acceleration to the upside has managed to clear through the resistance around 133 the figure and could be on the verge to clear a runway towards the 134.32 level and the 61.8% of the move down from 2014. First resistance is 133.20, ahead of 133.80 and 134.20. To the downside, 130.60 is a key area of support on the wide after clearing stops below 133 the figure and 132.24/45 (August 2015 low and January 2016 high).

Author

Ross J Burland

FXStreet

Ross J Burland, born in England, UK, is a sportsman at heart. He played Rugby and Judo for his county, Kent and the South East of England Rugby team.

EUR/USD climbs to daily highs near 1.1820

EUR/USD now picks up pace and advances to the area of daily peaks north of the 1.1800 barrier at the end of the week. The pair’s decent move higher comes against the backdrop of a generalised lack of direction in the FX galaxy and the mild offered stance in the US Dollar.

GBP/USD trims losses, retests 1.3460

After briefly challenging its key 200-day SMA near 1.3440, GBP/USD now manages to regain some balance and revisit the 1.3460 zone on Friday. Cable’s pullback comes as the selling pressure on the Greenback gathers traction, reigniting some recovery in the risk-linked space.

Gold flirts with four-week highs past $5,200

Gold extends its rebound, climbing for a third consecutive session and pushing back above the $5,200 mark per troy ounce on Friday. The move higher continues to draw support from lingering geopolitical tensions and the ongoing uncertainty surrounding US trade policy, both of which are keeping safe-haven demand firmly in play.

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.