EUR/JPY Price Analysis: Firm bets for a move to 127.00 (and beyond)

EUR/JPY keeps the trade well above the 126.00 barrier.
Further upside now targets the YTD highs around 127.00.

Pablo Piovano FXStreet

EUR/JPY extends the rally well above the 126.00 barrier amidst the persistent improvement in the risk complex.

If the buying pressure manages to gather further traction, then the 2020 peaks in the 127.00 zone (September 1) should return to the investors’ radar. Some correction, however, could be shaping up as the cross moved slightly into the overbought territory.

Looking at the broader picture, while above the 200-day SMA at 121.59 the outlook should remain constructive. The October’s low around 121.60 also reinforces this key contention zone.

EUR/JPY daily chart

EUR/JPY

Overview
Today last price	126.49
Today Daily Change	45
Today Daily Change %	0.02
Today daily open	126.47

Trends
Daily SMA20	124.06
Daily SMA50	123.76
Daily SMA100	124.26
Daily SMA200	121.6

Levels
Previous Daily High	126.55
Previous Daily Low	125.78
Previous Weekly High	124.57
Previous Weekly Low	123.08
Previous Monthly High	125.14
Previous Monthly Low	121.7
Daily Fibonacci 38.2%	126.26
Daily Fibonacci 61.8%	126.07
Daily Pivot Point S1	125.98
Daily Pivot Point S2	125.49
Daily Pivot Point S3	125.21
Daily Pivot Point R1	126.75
Daily Pivot Point R2	127.04
Daily Pivot Point R3	127.53

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.

EUR/USD climbs to daily highs near 1.1820

EUR/USD now picks up pace and advances to the area of daily peaks north of the 1.1800 barrier at the end of the week. The pair’s decent move higher comes against the backdrop of a generalised lack of direction in the FX galaxy and the mild offered stance in the US Dollar.

GBP/USD trims losses, retests 1.3460

After briefly challenging its key 200-day SMA near 1.3440, GBP/USD now manages to regain some balance and revisit the 1.3460 zone on Friday. Cable’s pullback comes as the selling pressure on the Greenback gathers traction, reigniting some recovery in the risk-linked space.

Gold flirts with four-week highs past $5,200

Gold extends its rebound, climbing for a third consecutive session and pushing back above the $5,200 mark per troy ounce on Friday. The move higher continues to draw support from lingering geopolitical tensions and the ongoing uncertainty surrounding US trade policy, both of which are keeping safe-haven demand firmly in play.

Bitcoin, Ethereum and Ripple consolidate with short-term cautious bullish bias

Bitcoin, Ethereum and Ripple are consolidating near key technical areas on Friday, showing mild signs of stabilization after recent volatility. BTC holds above $67,000 despite mild losses so far this week, while ETH hovers around $2,000 after a rejection near its upper consolidation boundary.

Changing the game: International implications of recent tariff developments

The Supreme Court ruling on International Emergency Economic Powers Act (IEEPA) tariffs provides limited relief for the rest of the world, with weighted average tariff rates modestly lower.

Starknet unveils strkBTC, shielded Bitcoin transactions on Ethereum Layer 2

Starknet, the Ethereum Layer 2 network developed by StarkWare, today announced strkBTC, a wrapped Bitcoin asset that introduces optional shielding while preserving full DeFi composability.