EUR/JPY Price Analysis: Room for extra upside near term

EUR/JPY adds to Thursday’s gains and prints new highs.
Further upside could target the 149.80 region in the short term.

Pablo Piovano FXStreet

EUR/JPY extends the optimism seen in the second half of the week and advances to new cycle highs around 147.60 on Friday.

Considering the current price action in the cross, the door still looks open to extra upside. That said, the immediate target now emerges at the December 2014 high at 149.78 (December 8).

In the short term the upside momentum is expected to persist while above the October lows near 141.00.

In the longer run, while above the key 200-day SMA at 136.85, the constructive outlook for the cross should remain unchanged.

EUR/JPY daily chart

EUR/JPY

Overview
Today last price	147.55
Today Daily Change	107
Today Daily Change %	0.37
Today daily open	147

Trends
Daily SMA20	142.76
Daily SMA50	141.1
Daily SMA100	140.45
Daily SMA200	136.8

Levels
Previous Daily High	147.3
Previous Daily Low	146.24
Previous Weekly High	144.85
Previous Weekly Low	140.9
Previous Monthly High	145.64
Previous Monthly Low	137.38
Daily Fibonacci 38.2%	146.89
Daily Fibonacci 61.8%	146.64
Daily Pivot Point S1	146.39
Daily Pivot Point S2	145.78
Daily Pivot Point S3	145.33
Daily Pivot Point R1	147.45
Daily Pivot Point R2	147.91
Daily Pivot Point R3	148.52

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 weakens below 1.3250 as UK Prime Minister Keir Starmer resigns

The GBP/USD pair loses ground to near 1.3245 during the early Asian trading hours on Tuesday. Political uncertainty in the United Kingdom continues to weigh on the British Pound against the US Dollar. The preliminary readings of the S&P Global Purchasing Managers Index from both the US and the UK are due later on Tuesday.

EUR/USD moves little amid market caution on ongoing US-Iran talks

EUR/USD steadies after registering modest losses in the previous day, trading around 1.1430 during the Asian hours on Tuesday. The currency pair remains locked in a tight range as traders closely monitor diplomatic developments surrounding ongoing talks between Washington and Tehran in Bürgenstock, Switzerland.

Gold defends $4,100, but for how long?

Gold is back in the red early Tuesday, having faced rejection once again at $4,200. The US Dollar holds at yearly highs amid hawkish Fed outlook, scepticism over US-Iran deal progress. Gold is primed to attack $4,100 as the daily technical setup remains in favor of sellers.

Bitcoin holds steady as ETF outflows decline – DEXE and TIA extend gains

Bitcoin hovers above $64,000 at press time on Tuesday, holding steady after a roughly 4% drop last week. Data shows that institutional outflows are easing, suggesting broader market recovery potential, while DeXe and Celestia have emerged as frontrunners over the last 24 hours.

Are American consumers actually “resilient“?

A common label gets placed upon American buyers: resilient. Just last week, Marianne Lake, the CEO of Consumer and Community Banking — and a member of the JPMorganChase Operating Committee — affirmed this sentiment. While she did note some weariness regarding future inflation’s effect on consumers, she reiterated the common adjective: resilient.

Regime change: Inside Kevin Warsh's first move to make the Fed unreadable on purpose

The rate did not move. That was the least interesting thing about Kevin Warsh's first meeting in charge of the Fed. The FOMC held its benchmark at 3.50%-3.75% for the fourth straight meeting, exactly as priced, and then the new chair used his first press conference to dismantle the machinery the market has leaned on for a decade.