EUR/JPY Price Analysis: Bulls take charge, eye 61.8% Fibo target

EUR/JPY bulls are stepping into action on the hourly time frame.
The daily chart's bullish structure is compelling.

Ross J Burland FXStreet

EUR/JPY remains above support and there are still prospects of a significant bullish correction according to the daily chart's market structure and bullish M-formation.

Daily chart

The bulls can target the 61.8% Fibonacci retracement level and the M-formation's neckline.

Hourly chart

From an hourly perspective, there is a strong bullish case given the prior bullish impulse, correction and now the current spike into the prior highs and presumed resistance.

A break of the resistance structure will align with the daily bullish M-formation's target keeping it firmly on the map.

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.

AUD/USD accelerates the decline below 0.7000

The late rebound in the Greenback has prompted the AUD/USD’s selling pressure to gather extra steam on Wednesday, sending spot to the mid-0.6900s for the first time since late July. In addition, inflation figures in Oz failed to surprise markets, leaving the pair vulnerable to extra weakness. On Thursday, the focus of attention on the domestic calendar will be on the release of the trade balance results in August.

USD/JPY stays weak below 157.00 amid Japanese intervention risks

USD/JPY keeps losses below 157.00 in the Asian session on Wednesday, as hawkish BoJ expectations, along with intervention risks, underpin the Japanese Yen, countering dismal domestic factory output and retail sales data. Meanwhile, a broad US Dollar retreat also collaborates to the pair's downside.

Gold meets resistance just above $4,200

Gold now makes a U-turn and recedes toward the $4,150 region per troy ounce on Wednesday. Indeed, the precious metal fades the earlier move past the key $4,200 yardstick and retreats marginally as the US Dollar trims part of its daily losses amid mixed US Treasury yields.

Bitcoin and Gold Outlook: BTC recovers $84K, XAU slips amid softer US PCE

Bitcoin (BTC) gains traction, rising above $84,000 on Wednesday as buyers return after softer-than-expected United States (US) inflation data. The Crypto King marks a second straight day of gradual recovery, building on the demand area between $82,000 and $83,000. Gold (XAU/USD), meanwhile, slides toward $4,100 after being rejected at the daily high of $4,219.

The Euro is near a one-year low: Inflation could trigger its rebound, not its fall

EUR/USD has fallen to its lowest level since May 2025, but a fresh inflation shock in the Eurozone could give the Euro an unexpected lifeline. The pair hit 1.1312 on Wednesday and trades well below the January peak of 1.2082. The decline reflects a powerful combination of US Dollar strength, geopolitical uncertainty and renewed concerns about Europe's exposure to higher energy prices.

The Euro is near a one-year low: Inflation could trigger its rebound, not its fall

EUR/USD has fallen to its lowest level since May 2025, but a fresh inflation shock in the Eurozone could give the Euro (EUR) an unexpected lifeline. The pair hit 1.1312 on Wednesday and trades well below the January peak of 1.2082.