EUR/JPY Price Analysis: Looks rangebound near term

EUR/JPY fades the recent strength and returns to 130.50.
Price action suggests further consolidation remains on the cards.

Pablo Piovano FXStreet

EUR/JPY adds to the recent corrective downside and extends the break below the 131.00 mark on Friday.

As long as the cross remains capped by the YTD high at 131.60 (January 5), further sideways trading should not be ruled out. In the meantime, occasional bearish attempts appear well contained by the 130.00 neighbourhood for the time being.

While above the 200-day SMA, today at 130.53, the outlook for EUR/JPY should remain constructive.

EUR/JPY daily chart

EUR/JPY

Overview
Today last price	130.48
Today Daily Change	48
Today Daily Change %	-0.18
Today daily open	130.72

Trends
Daily SMA20	130.16
Daily SMA50	129.51
Daily SMA100	130.01
Daily SMA200	130.58

Levels
Previous Daily High	131.44
Previous Daily Low	130.62
Previous Weekly High	131.6
Previous Weekly Low	130.02
Previous Monthly High	131.04
Previous Monthly Low	127.38
Daily Fibonacci 38.2%	130.93
Daily Fibonacci 61.8%	131.13
Daily Pivot Point S1	130.41
Daily Pivot Point S2	130.11
Daily Pivot Point S3	129.59
Daily Pivot Point R1	131.23
Daily Pivot Point R2	131.75
Daily Pivot Point R3	132.05

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 flirts with daily highs, retargets 1.1900

EUR/USD regains upside traction, returning to the 1.1880 zone and refocusing its attention to the key 1.1900 barrier. The pair’s slight gains comes against the backdrop of a humble decline in the US Dollar as investors continue to assess the latest US CPI readings and the potential Fed’s rate path.

GBP/USD remains well bid around 1.3650

GBP/USD maintains its upside momentum in place, hovering around daily highs near 1.3650 and setting aside part of the recent three-day drop. Cable’s improved sentiment comes on the back of the Greenback’s irresolute price action, while recent hawkish comments from the BoE’s Pill also collaborate with the uptick.

Gold clings to gains just above $5,000/oz

Gold is reclaiming part of the ground lost on Wednesday’s marked decline, as bargain-hunters keep piling up and lifting prices past the key $5,000 per troy ounce. The precious metal’s move higher is also underpinned by the slight pullback in the US Dollar and declining US Treasury yields across the curve.

Crypto Today: Bitcoin, Ethereum, XRP in choppy price action, weighed down by falling institutional interest

Bitcoin's upside remains largely constrained amid weak technicals and declining institutional interest. Ethereum trades sideways above $1,900 support with the upside capped below $2,000 amid ETF outflows.

Week ahead – Data blitz, Fed Minutes and RBNZ decision in the spotlight

US GDP and PCE inflation are main highlights, plus the Fed minutes. UK and Japan have busy calendars too with focus on CPI. Flash PMIs for February will also be doing the rounds. RBNZ meets, is unlikely to follow RBA’s hawkish path.

Ripple Price Forecast: XRP potential bottom could be in sight

Ripple edges up above the intraday low of $1.35 at the time of writing on Friday amid mixed price actions across the crypto market. The remittance token failed to hold support at $1.40 the previous day, reflecting risk-off sentiment amid a decline in retail and institutional sentiment.