EUR/JPY Price Analysis: Immediate hurdle remains around 158.00

EUR/JPY comes under pressure following a test of 157.50.
Extra gains continue to target the 2023 high beyond 158.00.

Pablo Piovano FXStreet

EUR/JPY reverses three consecutive daily advances and faces some selling pressure soon after testing weekly highs near 157.50 on Wednesday.

The continuation of the upside momentum should initially target the 2023 high at 158.04 (July 21), while the surpass of this levels exposes a move to the round level of 160.00 in the not-so-distant future.

So far, the longer term positive outlook for the cross appears favoured while above the 200-day SMA, today at 146.58.

EUR/JPY daily chart

EUR/JPY

Overview
Today last price	156.88
Today Daily Change	126
Today Daily Change %	-0.37
Today daily open	157.46

Trends
Daily SMA20	155.84
Daily SMA50	154.15
Daily SMA100	150.12
Daily SMA200	146.57

Levels
Previous Daily High	157.49
Previous Daily Low	156.39
Previous Weekly High	157.8
Previous Weekly Low	151.41
Previous Monthly High	158.05
Previous Monthly Low	151.41
Daily Fibonacci 38.2%	157.07
Daily Fibonacci 61.8%	156.81
Daily Pivot Point S1	156.74
Daily Pivot Point S2	156.02
Daily Pivot Point S3	155.64
Daily Pivot Point R1	157.83
Daily Pivot Point R2	158.21
Daily Pivot Point R3	158.93

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.

GBP/USD clings to gains; US CPI in focus

The British Pound holds onto two-day gains marginally at around 1.3500 against the US Dollar during the Asian trading session. The GBP/USD pair remains firm as the British Pound outperforms despite financial markets pricing out the possibility of an interest rate hike by the Bank of England in the near term.

EUR/USD flat lines near mid-1.1500s as traders await US CPI amid Iran uncertainty

The EUR/USD pair struggles to gain any meaningful traction, and holds steady around the 1.1545-1.1550 area during the Asian session. Traders seem hesitant to place aggressive bets and opt to wait for further developments surrounding the Middle East crisis and this week's release of the latest US inflation figures.

Gold surges past $4,400, hitting fresh two-month highs

Gold climbs further beyond $4,400, touching its highest level since June 5 in the Asian session on Tuesday. Easing Fed rate hike expectations continue to drive flows towards the non-yielding bullion. Meanwhile, inflation risks stemming from volatile oil prices back the case for at least one rate hike in 2026, which supports the US Dollar and might cap the precious metal ahead of the crucial US CPI report on Wednesday.

Bitcoin softens on institutional selling – CRV, ICP outperform

The broader cryptocurrency market shows mixed sentiment as Bitcoin (BTC) drops to $64,000 under institutional selling pressure. The Fear and Greed Index at 37, down from 40 the previous day, signals renewed bearish pressure. Meanwhile, Curve DAO (CRV) and Internet Computer (ICP) continue to extend their gains so far this week, emerging as top performers over the last 24 hours.

Breakouts, fakeouts, and the levels that decide what comes next

Friday gave metal bulls something to celebrate, with gold confirming a major breakout and silver finally pushing above its consolidation. Still, Monday’s action is a reminder that breaking a level is only half the job - the market now needs to prove it can hold those gains.

9-3: Is the Federal Reserve’s vote tally Warsh's new forward guidance?

The rate did not move. Neither did the statement, and that’s the more interesting fact. Set the July 29 Federal Open Market Committee (FOMC) statement beside the one issued on June 17, and the two documents are identical apart from a single verb and a paragraph at the bottom naming three dissenters.