EUR/JPY rises above 129.00 as the yen tumbles on higher US yields

EUR/JPY breaks to the upside after moving sideways during most of the day.
The main trend still bearish but the euro found support above 128.50.

Matías Salord FXStreet

The EUR/JPY pair broke to the upside during the American session on the back of a weak Japanese yen. It printed a fresh 2-day high at 129.20. Near the end of the session was holding near the highs, consolidating gains.

Higher US yields pushed the yen to the downside, particularly amid a rally of USD/JPY. The euro hit fresh highs against the yen and also versus the pound. The 10-year yield opened the day at 2.94% and recently reached 2.97%

EUR/JPY Key levels to watch

The main trend is still bearish but the euro is rebounding from a strong technical level at 128.50. If the euro consolidates above 129.20 the negative momentum would ease. Above the next strong resistance is located around 130.20. On the flip side, the immediate support is now the range 128.80/129.00: a slide below could clear the way for another test of 128.50.

Author

Matías Salord

FXStreet

Matías started in financial markets in 2008, after graduating in Economics. He was trained in chart analysis and then became an educator. He also studied Journalism. He started writing analyses for specialized websites before joining FXStreet.

EUR/USD flat lines near 1.1800 as traders brace for US PPI release

The EUR/USD pair trades on a flat note near 1.1800 during the early Asian session on Friday. The pair steadies as softer Eurozone inflation offsets US tariff uncertainties. Traders await the preliminary reading of the Consumer Price Index from Germany on Friday for more clues about the pace of future policy easing. On the US front, the Producer Price Index report will be released.

GBP/USD declines below 1.3500 on UK political uncertainty, US PPI data eyed

The GBP/USD pair loses ground to near 1.3485 during the early Asian session on Friday. The Pound Sterling weakens against the Greenback amid rising UK political uncertainty surrounding the Gorton and Denton by-election.

Gold awaits acceptance above $5,200 and US PPI data

Gold consolidates previous rebound near $5,200 amid risk-off markets, awaiting US PPI release. The US Dollar eyes a flattish weekly close as dovish Fed outlook and tariff woes outweigh geopolitical risks. Gold yearns for acceptance above $5,200 to resume the uptrend, with a bullish RSI in play.

Bitcoin, Ethereum and Ripple consolidate with short-term cautious bullish bias

Bitcoin, Ethereum and Ripple are consolidating near key technical areas on Friday, showing mild signs of stabilization after recent volatility. BTC holds above $67,000 despite mild losses so far this week, while ETH hovers around $2,000 after a rejection near its upper consolidation boundary.

Changing the game: International implications of recent tariff developments

The Supreme Court ruling on International Emergency Economic Powers Act (IEEPA) tariffs provides limited relief for the rest of the world, with weighted average tariff rates modestly lower.

Starknet unveils strkBTC, shielded Bitcoin transactions on Ethereum Layer 2

Starknet, the Ethereum Layer 2 network developed by StarkWare, today announced strkBTC, a wrapped Bitcoin asset that introduces optional shielding while preserving full DeFi composability.