EUR/JPY Price Analysis: Strong momentum points to extra gains

EUR/JPY clinches fresh tops near the 148.00 mark
Immediately to the upside emerges the 2022 high at 148.40.

Pablo Piovano FXStreet

EUR/JPY adds to Tuesday’s advance and approaches the key 148.00 region on Wednesday.

Considering the ongoing price action, further gains in the cross remain in store for the time being. That said, the continuation of the upside momentum could extend further and challenge the 2022 peak at 148.40 (October 21) sooner rather than later.

So far, further upside looks favoured while the cross trades above the 200-day SMA, today at 142.16.

EUR/JPY daily chart

EUR/JPY

Overview
Today last price	147.5
Today Daily Change	83
Today Daily Change %	0.24
Today daily open	147.15

Trends
Daily SMA20	144.31
Daily SMA50	143.59
Daily SMA100	142.63
Daily SMA200	142.15

Levels
Previous Daily High	147.38
Previous Daily Low	146.73
Previous Weekly High	147.16
Previous Weekly Low	143.8
Previous Monthly High	145.67
Previous Monthly Low	138.83
Daily Fibonacci 38.2%	147.13
Daily Fibonacci 61.8%	146.98
Daily Pivot Point S1	146.79
Daily Pivot Point S2	146.43
Daily Pivot Point S3	146.14
Daily Pivot Point R1	147.45
Daily Pivot Point R2	147.74
Daily Pivot Point R3	148.1

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 stays depressed near 1.1850 ahead of German ZEW

EUR/USD remains in the red near 1.1850 in the European session on Tuesday. A broad US Dollar bullish consolidation combined with a softer risk tone keep the pair undermined ahead of the German ZEW sentiment survey.

GBP/USD drops below 1.3600 after weak UK jobs report

GBP/USD is seeing a fresh selling wave, giving up the 1.3600 level in Tuesday's European trading. The United Kingdom employment data showed worsening labor market conditions, bolstering bets for a BoE interest rate cut next month. This narrative is weighing heavily on the Pound Sterling.

Gold pares intraday losses; keeps the red above $4,900 amid receding safe-haven demand

Gold (XAU/USD) attracts some follow-through selling for the second straight day and dives to over a one-week low, around the $4,858 area, heading into the European session on Tuesday.

Pi Network rallies ahead of its first anniversary

Pi Network trades above $0.1800 at the time of writing on Tuesday, recording nearly 5% gains so far. On-chain data indicate that large wallet investors, commonly known as whales, have accumulated approximately 4 million PI tokens over the last 24 hours.

The week ahead: Key inflation readings and why the AI trade could be overdone

It is likely to be a quiet start to the week, with US markets closed on Monday for Presidents Day. European markets are higher across the board and gold is clinging to the $5,000 level after the tamer than expected CPI report in the US reduced haven flows to precious metals.

Stellar mixed sentiment caps recovery

Stellar price remains under pressure, trading at $0.170 on Tuesday after failing to close above the key resistance on Sunday. The derivatives metric supports the bearish sentiment, with XLM’s short bets rising among traders and funding rates turning negative.