EUR/JPY Price Analysis: Another test of the 2023 top looms closer

EUR/JPY briefly tests the area beyond the 151.00 yardstick.
The continuation of the uptrend targets the 2023 peak near 151.60.

Pablo Piovano FXStreet

EUR/JPY reverses three consecutive sessions with gains and slip back to the boundaries of the 150.00 zone at the beginning of the week.

Further upside appears a plausible near-term scenario, and convincing breakout of the key round level at 150.00 could encourage the cross to dispute the 2023 top at 151.61 (May 2) in the not-so-distant future.

So far, further upside looks favoured while the cross trades above the 200-day SMA, today at 143.69.

EUR/JPY daily chart

EUR/JPY

Overview
Today last price	150.28
Today Daily Change	84
Today Daily Change %	-0.36
Today daily open	150.82

Trends
Daily SMA20	148.95
Daily SMA50	146.63
Daily SMA100	144.4
Daily SMA200	143.66

Levels
Previous Daily High	150.94
Previous Daily Low	149.79
Previous Weekly High	150.94
Previous Weekly Low	148.84
Previous Monthly High	150.44
Previous Monthly Low	142.55
Daily Fibonacci 38.2%	150.5
Daily Fibonacci 61.8%	150.23
Daily Pivot Point S1	150.1
Daily Pivot Point S2	149.38
Daily Pivot Point S3	148.96
Daily Pivot Point R1	151.24
Daily Pivot Point R2	151.66
Daily Pivot Point R3	152.38

Author

Pablo Piovano

FXStreet

Born and bred in Argentina, Pablo has been carrying on with his passion for FX markets and trading since his first college years.

AUD/USD sits near a one-month top, above 0.7000 amid fresh USD selling

AUD/USD holds above 0.7000 through the Asian session, trading near a one-month high touched earlier this Monday amid renewed US Dollar selling. US bond yields decline further amid a modest pullback in crude oil prices, capping the USD recovery from a three-week low. Moreover, bets for a November RBA rate hike support the Aussie, though upside seems capped ahead of the crucial two-day FOMC meeting, starting Tuesday.

USD/JPY struggles below 157.00 on weak USD; holds above one-month low ahead of Fed, BoJ meetings

USD/JPY attracts fresh sellers during the Asian session on Monday, stalling its recovery from the lowest level since September 18, touched Friday as a further decline in US bond yields weighs on the US Dollar. Meanwhile, the Japanese Yen benefits from a more hawkish BoJ, further weighing on the currency pair. The downside, however, seems limited as traders keenly await Fed and BoJ policy meetings later this week.

Gold sticks to modest recovery gains above $4,000 as Fed hike bets cap upside

Gold stages a modest recovery from the vicinity of a three-month low, trading above the $4,000 psychological mark through Monday’s Asian session amid a softer US Dollar. US President Donald Trump has ruled out immediate military action against Iran, triggering a modest pullback in crude oil prices. Furthermore, Federal Reserve officials have signaled no urgency to raise interest rates immediately.

Cardano's derivatives and on-chain data confirm bears in control

Cardano extends losses, trading below $0.202 after three consecutive weeks of more than 20% declines since early October. Selling pressure continues to build as weakening derivatives metrics, bearish on-chain signals and a deteriorating technical outlook point to further downside risks. Derivatives data shows a bearish bias for Cardano.

Flight to safety meets a high earnings bar as central bank week begins

Treasuries rallied again, equities are struggling, and central banks and earnings are on the horizon. Last week, US Treasuries rallied for a second consecutive week. This pushed 10s and 30s to 5% and 5.33%, respectively, flattening the curve even as Brent crude rallied about 7% to within striking distance of March peaks at US$119.50, and tech stocks posted a second straight week of losses.

What November 3 means for the Fed's rate path and the US Dollar

The USD faces a decisive period ahead of the November 3 midterm elections. While markets anticipate another interest rate increase from the Fed in December, the battle for control of Congress could reshape fiscal policy expectations and, indirectly, the path of US monetary policy in 2027.