EUR/JPY Price Analysis: Consolidative for longer

EUR/JPY adds to Thursday’s advance and surpasses 158.00.
Next on the upside comes the monthly peak at 158.65.

Pablo Piovano FXStreet

EUR/JPY extends Thursday’s gains and reclaims the area above the 158.00 hurdle at the end of the week.

In the meantime, the cross remains stuck within the consolidative range and the breakout of it exposes a visit to the so far monthly high of 158.65 (September 13) prior to the 2023 top at 159.76 (August 30), which precedes the key round level at 160.00.

So far, the longer term positive outlook for the cross appears favoured while above the 200-day SMA, today at 149.43.

EUR/JPY daily chart

EUR/JPY

Overview
Today last price	158.14
Today Daily Change	95
Today Daily Change %	0.23
Today daily open	157.77

Trends
Daily SMA20	157.81
Daily SMA50	157.63
Daily SMA100	155.31
Daily SMA200	149.39

Levels
Previous Daily High	157.87
Previous Daily Low	156.71
Previous Weekly High	158.45
Previous Weekly Low	157.04
Previous Monthly High	159.76
Previous Monthly Low	155.53
Daily Fibonacci 38.2%	157.43
Daily Fibonacci 61.8%	157.15
Daily Pivot Point S1	157.03
Daily Pivot Point S2	156.29
Daily Pivot Point S3	155.87
Daily Pivot Point R1	158.19
Daily Pivot Point R2	158.61
Daily Pivot Point R3	159.35

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 bulls regain control above 0.6950 amid USD retreat

AUD/USD regains traction and extends the previous day's bounce from the weekly low, aiming for 0.7000 in Asia on Friday. The overnight pullback in US bond yields keeps the US Dollar below an 18-month high, which in turn offers some support to the pair. Meanwhile, hawkish RBA expectations also keep the major underpinned.

USD/JPY holds gains near 158.00 after Japan's weak Household Spending data

USD/JPY clings to gains around 158.00 after data showed on Friday that Japan's Household Spending fell for the ninth straight month, undermining the Japanese Yen. Meanwhile, the US Dollar remains depressed as the overnight fall in US bond yields counters a hawkish Fed and geopolitical uncertainties, could cap any downside in the pair.

Gold remains range-bound below $4,200

Gold has given up some ground after an initial bullish attempt to reach weekly highs, returning to below the $4,200 mark per troy ounce on Friday. The US Dollar’s strong upside momentum, combined with rising US Treasury yields across the curve, seems to keep further gains in the yellow metal under scrutiny.

Has Bitcoin really escaped the macro forces it was built to fight?

Over 17 years ago, Satoshi Nakamoto designed Bitcoin (BTC) on the back of a global financial crisis as an alternative to the global monetary system outside the control of central banks, governments and traditional intermediaries. This raises a key question: has Bitcoin really become independent of the macroeconomic forces it was built to challenge?

The Euro is not the sick man of Europe. France's bond market is

EUR/USD remains under pressure, near the 17-month low of 1.1161 reached on Monday. The pair has lost more than 7% since its yearly peak, as concerns over France's public finances increasingly weigh on the single currency. But behind the weakness of the Euro (EUR), the problem does not necessarily lie with the European economy as a whole.