EUR/JPY Price Analysis: Euro consolidates near 164.00 as trend remains upward

EUR/JPY trades near the 164.00 zone after a modest pullback ahead of the Asian session.
Overall bias stays bullish, with trend indicators aligned to the upside.
Support levels hold below while short-term indicators remain neutral.

Patricio Martín FXStreet

The EUR/JPY pair edged slightly lower on Friday but continues to trade near the 164.00 zone as the market transitions into the Asian session. While price action eased from recent highs, the pair remains comfortably within the mid-range of the day’s movement. The pullback hasn’t altered the broader bullish outlook, which is supported by rising trend-based indicators across multiple timeframes.

Technically, EUR/JPY maintains its bullish stance. The Moving Average Convergence Divergence remains in buy mode, confirming ongoing upside momentum despite today’s dip. The Relative Strength Index hovers near 61, signaling neutral momentum with a slight bullish tilt. Both the Stochastic %K and Average Directional Index are also neutral, indicating no clear short-term exhaustion or emerging trend strength.

The bullish case is clearly backed by the trend indicators. The 10-day Exponential and Simple Moving Averages are rising beneath current price action, providing immediate support. Reinforcing the longer-term outlook, the 20-day, 100-day, and 200-day Simple Moving Averages are all positioned below and trending upward, suggesting underlying strength remains intact.

Support is found at 163.35, followed by 162.79 and 162.63. Resistance is now expected around the recent highs, with any break above likely extending the bullish leg further into the coming sessions.

Daily Chart

Author

Patricio Martín

FXStreet

Patricio is an economist from Argentina passionate about global finance and understanding the daily movements of the markets.

AUD/USD falls to near 0.7100 after slipping below 50-day EMA

AUD/USD depreciates after registering minor gains in the previous day, trading around 0.7120 during the Asian hours. The technical analysis of the daily chart shows the pair consolidating sideways within a rectangle pattern, as neither bulls nor bears gain control. The AUD/USD pair is holding a slight bearish tone however as it sits beneath both the nine-day and 50-day EMAs.

160.00: USD/JPY back near intervention territory after upbeat US jobs report

US Nonfarm Payrolls beat expectations by a wide margin in May, with 172K jobs added. The US Dollar rebounds after the release, helping USD/JPY recover from its intraday lows. Warnings from Japanese authorities continue to limit upside potential near the 160.00 threshold.

Gold targets $4,300 amid stronger Dollar

Gold faces increasing selling interest and navigates the area of three-month lows near the $4,300 mark per troy ounce on Friday. The precious metal’s decline comes as traders assess the stronger-than-expected NFP, while the bid bias in the Greenback and higher US Treasury yields also collaborate with the retracement.

Cardano hits five-year low even as Hoskinson clarifies "break" isn't an exit

Cardano (ADA) price is down 10% at press time on Friday, extending losses over 30% so far this week amid Charles Hoskinson's clarification that "break" isn't an exit.

Week ahead – Fed countdown begins amid US inflation data and geopolitical risks

Fed Chair Warsh’s first meeting approaches as key US inflation data could reshape expectations. Oil prices remain elevated as US-Iran talks continue; tariffs also return to the spotlight. ECB is expected to hike; will it be a one-off move or is July live?

The US economy defies the rules: 100 days into the Oil shock and the recession signal is still missing

More than three months after the start of the Iran war and the resulting disruption to global energy markets, the US economy continues to display remarkable resilience. The conflict has triggered a sharp rise in Oil prices, reignited inflationary pressures and fueled widespread concerns about a potential economic slowdown.