EUR/JPY Price Analysis: No change to the consolidative theme

EUR/JPY fades Monday’s drop and climbs to the 158.00 region.
Further side-lined trade appears favoured so far.

Pablo Piovano FXStreet

EUR/JPY sets aside Monday’s small pullback and resumes the upside to the boundaries of the 158.00 zone on Tuesday.

In the meantime, the cross remains stuck within the consolidative range and the breakout of it exposes a visit to the so far monthly high of 158.65 (September 13) prior to the 2023 top at 159.76 (August 30), which precedes the key round level at 160.00.

On the downside, the so far monthly low of 154.34 (October 3) emerges as the initial contention in case of bearish attempts.

So far, the longer term positive outlook for the cross appears favoured while above the 200-day SMA, today at 150.00.

EUR/JPY daily chart

EUR/JPY

Overview
Today last price	157.65
Today Daily Change	121
Today Daily Change %	0.45
Today daily open	156.95

Trends
Daily SMA20	157.48
Daily SMA50	157.8
Daily SMA100	155.89
Daily SMA200	149.94

Levels
Previous Daily High	158.1
Previous Daily Low	156.51
Previous Weekly High	158.48
Previous Weekly Low	154.39
Previous Monthly High	158.66
Previous Monthly Low	156.58
Daily Fibonacci 38.2%	157.12
Daily Fibonacci 61.8%	157.49
Daily Pivot Point S1	156.27
Daily Pivot Point S2	155.6
Daily Pivot Point S3	154.69
Daily Pivot Point R1	157.86
Daily Pivot Point R2	158.77
Daily Pivot Point R3	159.45

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 hangs close to 1.3500, awaits fresh impetus from US CPI

GBP/USD keeps its range around 1.3500 in Wednesday's European trading. The pair continues to trade with caution as the US Dollar (USD) holds ground ahead of a crucial US consumer inflation report. Investors are watching this upcoming reading closely, as it is expected to play a major role in shaping the Federal Reserve’s next interest rate decision and the USD valuation.

EUR/USD consolidates below 1.1550 ahead of US CPI

EUR/USD struggles to gain any meaningful traction and holds steady around 1.1550 in the European trading hours on Wednesday, maintaining a familiar range held over the past week or so. Traders keenly await the release of the key US inflation data and further developments surrounding the Middle East crisis before placing fresh directional bets.

Gold clings to gains above $4,400 post-US CPI

Gold reverses the recent weakness and reclaims the area past the $4,400 mark per troy ounce on Wednesday. The precious metal’s recovery picks up pace and exceedes the $4,400 level in the wake of the release of in-line US inflation figures in July and the marginal gains in the US Dollar.

Zcash below $500 puts bulls under pressure, 100-day EMA in focus

Zcash price trades below $500 at press time on Wednesday, holding steady after two consecutive days of losses. Retail demand for the privacy coin is mixed as the broader market awaits the release of US Consumer Price Index data for July later in the day.

US CPI data set to show softer inflation in July as markets reassess Fed rate hike bets

The US Bureau of Labor Statistics will publish the July Consumer Price Index data on Wednesday. The report is expected to show a small decline in consumer inflation and core inflation. The monthly CPI is forecast to rise by 0.1%, following the 0.4% decrease recorded in June, while the annual reading is seen retreating to 3.4% from 3.5% reported in the previous month.

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.