EUR/JPY Price Analysis: Recovery remains focused on 147.00

EUR/JPY comes under pressure and breaks below 145.00.
The next hurdle of note still emerges around 147.00 near term.

Pablo Piovano FXStreet

EUR/JPY fades the optimism seen at the beginning of the week and puts 145.00 to the test on turnaround Tuesday.

So far, the corrective rebound looks well in place and the cross should face initial resistance at the so far November high at 147.11 (November 9). Above the latter, the door could open to a more meaningful move to the 2022 peak at 148.40 (October 21).

In the longer run, while above the key 200-day SMA at 138.54, the positive outlook is expected to remain unchanged.

EUR/JPY daily chart

EUR/JPY

Overview
Today last price	144.94
Today Daily Change	82
Today Daily Change %	-0.41
Today daily open	145.53

Trends
Daily SMA20	145.68
Daily SMA50	144.08
Daily SMA100	141.3
Daily SMA200	138.52

Levels
Previous Daily High	145.65
Previous Daily Low	144.34
Previous Weekly High	145.55
Previous Weekly Low	143.35
Previous Monthly High	148.4
Previous Monthly Low	140.9
Daily Fibonacci 38.2%	145.14
Daily Fibonacci 61.8%	144.84
Daily Pivot Point S1	144.69
Daily Pivot Point S2	143.86
Daily Pivot Point S3	143.39
Daily Pivot Point R1	146
Daily Pivot Point R2	146.48
Daily Pivot Point R3	147.31

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 sticks to positive bias above 1.1800 as trade jitters undermine USD

The EUR/USD pair builds on the previous day's modest gains and attracts some buyers for the second straight day on Thursday amid a softer US Dollar. Spot prices, however, lack bullish conviction and trade around the 1.1815-1.1820 area during the Asian session, up 0.10% for the day.

GBP/USD bounces as soft CPI boosts BoE cut bets

GBP/USD rose 0.42% on Wednesday, recovering toward 1.3600 in a session shaped by softer-than-expected UK inflation data and broad US Dollar weakness. The pair had been consolidating in a tight range between about 1.3450 and 1.3520 for the past few days following the sharp pullback from the late-January high near 1.3870, and Wednesday's move pushed price action back onto the high side of key moving averages.

Gold retakes $5,200 amid sustained haven demand, softer USD

Gold attracts some buyers for the second straight day as trade jitters and geopolitical tensions persist ahead of the US-Iran nuclear talks, which underpin demand for safe-haven assets. Additionally, a softer US Dollar further supports the bullion, though the underlying bullish sentiment could cap gains. Bulls might also opt to wait for acceptance above the $5,200 mark before positioning for any meaningful appreciating move.

UK financial watchdog advances stablecoin oversight as four firms pilot issuance

The Financial Conduct Authority in the United Kingdom is advancing toward the final stablecoin regulatory framework with a pilot program involving four companies, including Monee, Financial Technologies ReStabilise, Revolut and VVTX.

Nvidia delivers another monster earnings report, and forecasts big things to come

It was another monster earnings report from Nvidia for fiscal Q4. Revenues were $68.1bn, smashing estimates of $65bn. Gross profit margin was a healthy 75%, up from 73.5% in the prior quarter, and the outlook for this quarter was monstrous.

Cosmos Hub Price Forecast: ATOM rebounds slightly, bearish outlook remains intact

Cosmos Hub (ATOM) price rebounds, trading above $2.05 at the time of writing on Wednesday, after undergoing a sharp correction since last week. Weakening on-chain and derivatives data support a bearish outlook, while technical analysis remains unfavorable.