EUR/JPY Price Analysis: Dribbles around five-week top with eyes on 140.00

EUR/JPY struggles to extend five-day uptrend as bulls flirt with lat April tops.
Bullish MACD, firmer RSI portray upside momentum towards the yearly high.
Three-month-long support line appears the key for bears, 61.8% FE lures buyers.

Anil Panchal FXStreet

EUR/JPY pares intraday gains around multi-day high, easing to 138.50 of late, as bulls take a breather during early Thursday morning in Europe.

Despite the cross-currency pair’s failure to extend the four-day uptrend, the quote’s trading beyond the 136.30 support confluence, including the 50-DMA and 23.6% Fibonacci retracement (Fibo.) of March-April upside favor bulls.

Also keeping EUR/JPY buyers are the bullish MACD signals and firmer RSI (14), not overbought.

That said, the yearly high marked in April, around 140.00, appears immediate target for the pair buyers.

However, the RSI conditions may turn overbought around the stated psychological magnet and could trigger a consolidation, failing to do so may propel the EUR/JPY prices towards 61.8% Fibonacci Expansion (FE) of March-May moves, near 142.40.

Alternatively, the pair’s weakness past 136.30 support confluence isn’t an open invitation to the bears as an upward sloping trend line from early March, near 135.80, could also challenge the EUR/JPY downside.

In a case where the pair decline below 135.80, the odds favoring its slump to May’s low near 132.65 can’t be ruled out.

EUR/JPY: Daily chart

Trend: Further upside expected

Additional important levels

Overview
Today last price	138.54
Today Daily Change	-0.01
Today Daily Change %	-0.01%
Today daily open	138.55

Trends
Daily SMA20	136.31
Daily SMA50	136.29
Daily SMA100	133.06
Daily SMA200	131.53

Levels
Previous Daily High	138.98
Previous Daily Low	138.1
Previous Weekly High	136.8
Previous Weekly Low	134.66
Previous Monthly High	138.32
Previous Monthly Low	132.66
Daily Fibonacci 38.2%	138.64
Daily Fibonacci 61.8%	138.43
Daily Pivot Point S1	138.1
Daily Pivot Point S2	137.66
Daily Pivot Point S3	137.22
Daily Pivot Point R1	138.99
Daily Pivot Point R2	139.42
Daily Pivot Point R3	139.87

Author

Anil Panchal

FXStreet

Anil Panchal has nearly 15 years of experience in tracking financial markets. With a keen interest in macroeconomics, Anil aptly tracks global news/updates and stays well-informed about the global financial moves and their implications.

EUR/USD shifts its attention to 1.1900 and above

EUR/USD has shaken off Tuesday’s dip, pushing back beyond the 1.1800 mark amid decent gains as Wednesday’s session draws to a close. The rebound is largely driven by a modest pullback in the US Dollar, as markets digest the aftermath of President Trump’s SOTU speech and continue to monitor trade-related headlines and signals from the White House.

GBP/USD challenges multi-day highs near 1.3530

GBP/USD leaves behind the previous day’s decline and regains fresh upside traction on Wednesday, surpassing the 1.3500 barrier in a context of a modest decline in the Greenback and a generalised improved mood in the risk-linked space. Meanwhile, the US tariff narrative continues to dictate the mood among market participants after Presidet Trump’s SOTU speech failed to surprise markets.

Gold remains bid and close to $5,200

Gold buyers are returning to the fold on Wednesday, targeting the $5,200 area and possibly beyond, after Tuesday’s corrective dip from monthly highs. The rebound in the precious metal comes as the US Dollar loses traction, with Trump’s SOTU speech offering little fresh direction and AI-related nerves continuing to ease.

UK financial watchdog advances stablecoin oversight as four firms pilot issuance

The Financial Conduct Authority (FCA) in the United Kingdom (UK) is advancing toward the final stablecoin regulatory framework with a pilot program involving four companies, including Monee, Financial Technologies ReStabilise, Revolut and VVTX.

Nvidia earnings to influence AI trade and broader market sentiment

For the last three years, Nvidia has been the engine of the AI boom, and now Wall Street is watching to see whether that momentum can keep going. High-growth stocks have been struggling to maintain their bullish trend in 2026.

Cosmos Hub Price Forecast: ATOM rebounds slightly, bearish outlook remains intact

Cosmos Hub (ATOM) price rebounds, trading above $2.05 at the time of writing on Wednesday, after undergoing a sharp correction since last week. Weakening on-chain and derivatives data support a bearish outlook, while technical analysis remains unfavorable.