EUR/JPY Price Analysis: Rising bets for extra upside

EUR/JPY advances well past the 131.00 mark on Thursday.
Extra gains now seen testing 132.00 and beyond.

Pablo Piovano FXStreet

EUR/JPY extends the sharp recovery for yet another session and this time further north of the 131.00 hurdle.

The intense move higher in the cross has been exacerbated following the recent breakout of the key 200-day SMA and now targets the round level at 132.00 ahead of minor obstacles at the July 1 high at 132.43 and the June 23 high at 132.69, all prior to another Fibo level at 132.79.

In the broader scenario, while above the 200-day SMA at 129.85, the outlook for the cross is expected to remain constructive.

EUR/JPY daily chart

EUR/JPY

Overview
Today last price	131.61
Today Daily Change	58
Today Daily Change %	0.21
Today daily open	131.34

Trends
Daily SMA20	129.44
Daily SMA50	129.49
Daily SMA100	130.5
Daily SMA200	129.87

Levels
Previous Daily High	131.46
Previous Daily Low	130.88
Previous Weekly High	129.92
Previous Weekly Low	128.34
Previous Monthly High	130.74
Previous Monthly Low	127.93
Daily Fibonacci 38.2%	131.24
Daily Fibonacci 61.8%	131.11
Daily Pivot Point S1	130.99
Daily Pivot Point S2	130.65
Daily Pivot Point S3	130.41
Daily Pivot Point R1	131.57
Daily Pivot Point R2	131.81
Daily Pivot Point R3	132.15

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.