EUR/JPY Price Analysis: Bounces from cloud’s edge, reclaims 157.00

Intervention hesitations by Japanese authorities refrained EUR/JPY bulls from entering the market.
If EUR/JPY pierces the two-week support trendline, the pair might drop inside the Kumo.
Short-term, the pair remains bearish, with their sight set at 156.00.

Christian Borjon Valencia FXStreet

The EUR/JPY dropped towards the top of the Ichimoku Cloud (Kumo) at around 156.80 but jumped off that level and reclaimed the 157.00 figure as the Asian session began. The EUR/JPY prints minuscule losses of 0.06%, exchanging hands at around 157.02.

The daily chart shows the pair is extending its consolidation, but it briefly broke below a two-week low support trendline, which exacerbated a fall beneath 157.00. However, key support levels keep the EUR/JPY underpinned for higher prices. Still, threats of Japanese intervention in the Forex markets refrain bulls from opening fresh bets and break to a new cycle high, above the September 13 daily high at 158.65. Conversely, if EUR/JPY slips inside the Kumo, the first support would be the Senkou-Span B at 155.58, followed by the bottom of the Kumo at 155.20.

From an intraday perspective, the EUR/JPY hourly chart showed the pair is set to extend its losses, but it remains near yesterday’s lows. A breach of the lows at 156.95 could pave the way to test the September 15 swing low at 156.72, followed by the September 14 daily low of 156.64. Once those levels are cleared, the next stop would be 156.00.

EUR/JPY Price Action – Hourly chart

EUR/JPY Key Technical Levels

EUR/JPY

Overview
Today last price	157
Today Daily Change	-0.60
Today Daily Change %	-0.38
Today daily open	157.6

Trends
Daily SMA20	157.94
Daily SMA50	157.57
Daily SMA100	155.1
Daily SMA200	149.22

Levels
Previous Daily High	157.93
Previous Daily Low	157.32
Previous Weekly High	158.45
Previous Weekly Low	157.04
Previous Monthly High	159.76
Previous Monthly Low	155.53
Daily Fibonacci 38.2%	157.55
Daily Fibonacci 61.8%	157.69
Daily Pivot Point S1	157.3
Daily Pivot Point S2	157.01
Daily Pivot Point S3	156.7
Daily Pivot Point R1	157.91
Daily Pivot Point R2	158.22
Daily Pivot Point R3	158.51

Author

Christian Borjon Valencia

FXStreet

Markets analyst, news editor, and trading instructor with over 14 years of experience across FX, commodities, US equity indices, and global macro markets.

AUD/USD looks bid; retargets 0.7000

AUD/USD has managed to regain the 0.6900 hurdle and beyond in quite an auspicious start to the new trading week. The pair’s marked recovery has come on the back of the resurgence of the geopolitics-led selling pressure on the Greenback ahead of the release of key US CPI prints on Tuesday.

USD/JPY retreat in sync with USD, appraches 158.00

USD/JPY is back in the red at the start of the week on Monday, eyeing the broad US Dollar retreat amid easing US-Iran tensions. Traders also resorting to profit-taking following the blockbuster US Nonfarm Payrolls data-led rally. US CPI report is next in focus.

Gold keeps the bid tone near $4,100

Gold resumes its recovery on Monday, hovering around the $4,100 region per troy ounce. The precious metal’s solid performance comes amid fresh downside pressure on the US Dollar, rising US Treasury yields and a marked retracement in crude oil prices.

Ethereum Price Forecast: ETH drops to $2,100 as community debates Vitalik Buterin's SoV pitch

Ethereum (ETH) is down 4.6% on Monday as the crypto community debated co-founder Vitalik Buterin's argument that the top altcoin's long-term value should come from its store-of-value (SoV) properties rather than transaction fee burning.

Two Huangs don’t make a right: Nvidia CEO caught in scandal – NVDA slides

Nvidia CEO Jensen Huang sent employees an apology for being unfaithful to his wife, following reports that he may have been targeted in a foreign intelligence operation. Why is Nvidia trading roughly 5–6% below Friday’s close in the overnight market? And – more importantly – does this actually matter to the AI trade?

Gold reclaimed $4,100. Tuesday’s CPI test decides if it holds

Gold (XAU/USD) starts the week on a positive note, reclaiming the $4,100 psychological level as the US Dollar (USD) retreats from its recent highs. The precious metal recovers from Friday's losses, although investors remain cautious ahead of Tuesday's US Consumer Price Index (CPI) report, which could determine the next direction for Bullion.