EUR/JPY ekes out another 15-year high, inching towards 162.00

The EUR/JPY is squeezing into 161.80 as the Yen continues to slump against the Euro.
ECB President Lagarde dual speeches today and tomorrow.
Japan trade balance data missed expectations.

Joshua Gibson FXStreet

The EUR/JPY pinged another 15-year high as a recovering Euro (EUR) takes another step over the Japanese Yen (JPY).

European Central Bank (ECB) President Christine Lagarde will be delivering a speech today and a speech tomorrow; today's speech will be at the House of the Euro, a collaborative working space for different European central banks. No significant comments on monetary policy are likely at the event.

Meanwhile, President Lagarde's second showing in as many days sees the ECB head spending Friday participating in a 'fireside chat' at the Financial Times' Global Boardroom in London.

Japan Current Account figures missed the mark early Thursday, with the non-seasonally-adjusted headline Current Account for September coming in at JPY 2.723 trillion, flubbing the forecast 3 trillion but still squeaking out above August's 2.279 trillion.

EUR/JPY Technical Outlook

The Euro is grinding ever-higher into 15-year highs against the Yen, and technical patterns towards the topside are entirely absent. Technical framework is strictly limited to pullbacks and any recovery patterns in the Yen, should they ever come.

The pair saw some rough consolidation through the past four to five months, but the most recent bullish snap in the EuR/JPY is taking the pair further above the 50-day Simple Moving Average (SMA) currently rising from the 158.00 handle, while current price action soars far above median prices near the 200-day SMA currently rising into 152.00.

EUR/JPY Daily Chart

EUR/JPY Technical Levels

EUR/JPY

Overview
Today last price	161.77
Today Daily Change	0.05
Today Daily Change %	0.03
Today daily open	161.72

Trends
Daily SMA20	159.1
Daily SMA50	158.22
Daily SMA100	157.63
Daily SMA200	151.97

Levels
Previous Daily High	161.73
Previous Daily Low	160.7
Previous Weekly High	160.85
Previous Weekly Low	157.7
Previous Monthly High	160.85
Previous Monthly Low	154.39
Daily Fibonacci 38.2%	161.34
Daily Fibonacci 61.8%	161.09
Daily Pivot Point S1	161.04
Daily Pivot Point S2	160.35
Daily Pivot Point S3	160
Daily Pivot Point R1	162.07
Daily Pivot Point R2	162.42
Daily Pivot Point R3	163.1

Author

Joshua Gibson

FXStreet

Joshua joins the FXStreet team as an Economics and Finance double major from Vancouver Island University with twelve years' experience as an independent trader focusing on technical analysis.

AUD/USD sits at three-week highs above 0.7000 on hawkish RBA-speak

AUD/USD holds a positive bias for the fourth straight day, trading above 0.7000 in the Asian session on Wednesday and at three-week highs. RBA Deputy Governor Andrew Hauser's hawkish remarks and inflation concerns underpin the pair. However, the upside appears capped as the US Dollar attracts some buyers amid looming US-Iran uncertainty.

USD/JPY remains confined in a familiar range below 158.50

USD/JPY sees some dip-buying in the Asian session on Wednesday, though it remains confined within a multi-week range near 158.50 as the uncertainty over the timing of the next BoJ rate hike keeps Japanese Yen bulls on the defensive. Meanwhile, hawkish Fed expectations, bolstered by inflation risks stemming from volatile oil prices, underpin the US Dollar. However, looming intervention fears could limit JPY losses and cap the currency pair.

Gold Price Forecast: XAU/USD hits lows near $4,110 as yields, Oil pick up

Gold (XAU/USD) extends losses for the fourth consecutive day on Wednesday as a moderate pick up on US Treasury yields and higher Oil prices support a mild US Dollar (USD) recovery from Tuesday’s lows.

Bitcoin eyes a break above $85,000 as institutional demand returns

Bitcoin edges higher above $83,000, extending its rebound from the 50-day EMA near $80,786. US-listed BTC spot ETFs recorded over $23 million in net inflows on Tuesday, following Monday's $526 million, signaling a return of institutional demand.

France’s 10-year bond yield climbs above 5% stirring fears of a credit crisis

France’s ballooning debt, coupled with social unrest getting out of control, is posing a perfect storm in the bond market, and boosting the yield of the 10-year Obligation Assimilable du Trésor (OAT) to levels above 5% for the first time since 2002.

The US Dollar fell. Gold didn't rally. That tells you everything

Gold (XAU/USD) is struggling to capitalize on a weaker US Dollar (USD), after repeatedly failing to establish itself above the $4,200 level. The precious metal remains confined to a relatively narrow trading range despite a combination of developments that would normally support higher prices.