EUR/JPY Price Analysis: Next target now emerges at 160.00

EUR/JPY climbs to fresh highs well past 158.00 on Thursday.
Further upside could now see 160.00 revisited in the near term.

Pablo Piovano FXStreet

EUR/JPY extends the advance for the fifth consecutive session and finally surpasses the key 158.00 hurdle to print new peaks in levels last seen in September 2008 around 158.90.

So far, the continuation of the upside momentum appears likely with an immediate target emerging at he round level of 160.00 in the short-term horizon. The breakout of the latter should not see any resistance level of note until the 2008 high at 169.96 (July 23)

So far, the longer term positive outlook for the cross appears favoured while above the 200-day SMA, today at 146.92.

EUR/JPY daily chart

EUR/JPY

Overview
Today last price	158.82
Today Daily Change	134
Today Daily Change %	0.68
Today daily open	157.75

Trends
Daily SMA20	156.18
Daily SMA50	154.95
Daily SMA100	151.02
Daily SMA200	146.88

Levels
Previous Daily High	157.9
Previous Daily Low	156.91
Previous Weekly High	157.5
Previous Weekly Low	155.11
Previous Monthly High	158.05
Previous Monthly Low	151.41
Daily Fibonacci 38.2%	157.52
Daily Fibonacci 61.8%	157.29
Daily Pivot Point S1	157.14
Daily Pivot Point S2	156.54
Daily Pivot Point S3	156.16
Daily Pivot Point R1	158.13
Daily Pivot Point R2	158.51
Daily Pivot Point R3	159.12

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.

Markets move fast. We move first.

Orange Juice Newsletter brings you expert driven insights - not headlines. Every day on your inbox.

Editor's Picks

EUR/USD edges higher to mid-1.1600s; looks to US PCE Price Index for fresh impetus

The EUR/USD pair attracts some dip-buyers during the Asian session on Friday and recovers a part of the previous day's retracement slide from the 1.1680 region, or the highest level since October 17. Spot prices currently trade around mid-1.1600s and remain on track to register gains for the second straight week.

GBP/USD: Constructive view prevails above 1.3300 ahead of US PCE inflation data

The GBP/USD pair trades on a flat note near 1.3330 during the Asian trading hours on Friday. Traders prefer to wait on the sidelines ahead of the key US inflation report later on Friday. The US delayed Personal Consumption Expenditures Price Index report for September could offer some hints about the US interest rate path.

Gold bull-bear tug-of-war extends ahead of US data

Gold struggles around $4,200 early Friday, eyes a modestly flat close to the week. US Dollar turns south alongside Treasury bond yields amid Fed rate cut buzz. Gold remains confined within a tight range; buyers refuse to give up yet.

Top Crypto Gainers: Zcash rallies as MYX Finance, Dash test critical EMA levels

Zcash, MYX Finance, and Dash are the top-performing assets in the top 100 cryptocurrency list over the last 24 hours. The privacy coin leads the rally while MYX and DASH struggle to clear their 100-day Exponential Moving Averages.

Why the Fed may cut rates in December: Understanding the policy shift

The Fed has gone through a noticeable policy swing in recent months - from initiating a rate cut, to signaling a potential pause, and now shifting once again toward another cut in December. This has created understandable confusion among traders and investors trying to interpret the Fed’s reaction function.

XRP edges lower despite record on-chain activity and steady ETF inflows

Ripple is trading under pressure at the time of writing on Thursday, after bulls failed to break the short-term resistance at $2.22. The reversal may extend toward Monday’s low of $1.98, especially if risk-off sentiment persists in the broader cryptocurrency market.