EUR/JPY Price Analysis: Eyes 158.00 as a hammer emerges, suggesting upside expected

EUR/JPY trades at 157.85, up 0.19%, as it hovers above the Ichimoku Cloud, indicating a neutral to bullish outlook.
First resistance for buyers lies at the Kijun-Sen level of 158.05; breaching this could target year-to-date high at 159.76.
Immediate support found at September 11 daily low of 156.58; breaking this could see the pair slide toward 155.58.

Christian Borjon Valencia FXStreet

The Euro (EUR) advances against the Japanese Yen (JPY) for the second straight day after forming a hammer, which suggests the cross-currency pair could be headed for higher prices. As the North American session winds down, the EUR/JPY is trading at 157.85, gaining 0.19% at the time of writing.

EUR/JPY Price Analysis: Technical outlook

After peaking at around 158.15, the EUR/JPY remains neutral to a downward bias despite trading above the Ichimoku Cloud (Kumo). As the pair continued to print successive series of lower highs and lows, today’s upward correction is being capped by the Kijun-Sen at 158.05, seen as the first resistance for buyers if they would like to retest yearly highs. A breach of the latter would expose 159.00, followed by the year-to-date (YTD) high at 159.76.

Conversely, the EUR/JPY first support would be the September 11 daily low of 156.58, which, once cleared, the pair would dive towards the Senkou Span B at 155.58. In the scenario of sliding below that level, the top of the Kumo will emerge as the next support at 154.70.

EUR/JPY Price Action – Daily chart

EUR/JPY

Overview
Today last price	157.86
Today Daily Change	0.40
Today Daily Change %	0.25
Today daily open	157.46

Trends
Daily SMA20	158.29
Daily SMA50	157.14
Daily SMA100	154.11
Daily SMA200	148.47

Levels
Previous Daily High	158.23
Previous Daily Low	156.58
Previous Weekly High	158.52
Previous Weekly Low	157
Previous Monthly High	159.76
Previous Monthly Low	155.53
Daily Fibonacci 38.2%	157.21
Daily Fibonacci 61.8%	157.6
Daily Pivot Point S1	156.62
Daily Pivot Point S2	155.78
Daily Pivot Point S3	154.98
Daily Pivot Point R1	158.26
Daily Pivot Point R2	159.07
Daily Pivot Point R3	159.91

Author

Christian Borjon Valencia

FXStreet

Markets analyst, news editor, and trading instructor with over 14 years of experience across FX, commodities, US equity indices, and global macro markets.

EUR/USD gains traction to near 1.1800 as tariff uncertainty weighs on US Dollar

The EUR/USD pair holds positive ground around 1.1795 during the early Asian session on Tuesday. The US Dollar weakens against the Euro amid US tariff uncertainty. The release of the US January Producer Price Index report will be in the spotlight later on Friday.

GBP/USD treads water near 1.3500 as BoE-Fed divergence debate stalls

GBP/USD spent Monday spinning in place as market participants await a fresh catalyst to break the pair out of its recent range. The BoE's February hold came with a surprisingly dovish 5-4 split, and UK Consumer Price Index data last week showed inflation easing to 3.0%, reinforcing the case for earlier rate cuts, with most economists now looking to April or March for the next move.

Gold down but not out as key $5,140 support holds

Gold consolidates the advance to monthly top of $5,250 in Tuesday’s Asian trades. The US Dollar finds demand as liquidity returns and risk sentiment recovers, despite US tariffs uncertainty. Gold defends 61.8% Fibo resistance at $5,142 amid the pullback, daily RSI remains bullish.

Top Crypto Losers: BCH, HYPE, PUMP extend losses as Bitcoin drops below $64,000

Altcoins, including Bitcoin Cash, Hyperliquid, and Pump.fun, are leading losses over the last 24 hours as Bitcoin falls below $64,000 on Tuesday. The technical outlook for BCH, HYPE, and PUMP flags downside risk amid broader market selling.

Supreme Court nixes tariffs, Trump teases 15% global tariff

On February 20th, the Supreme Court ruled that Trump’s global tariffs under IEEPA authority were unconstitutional, effectively nullifying the framework. However, the relief was short-lived. Within hours, Trump floated a 15% blanket tariff under an alternative legal authority.

XRP recovers slightly as bearish sentiment dominates crypto market

Ripple is rising above $1.40 at the time of writing on Monday amid fresh tariff-triggered headwinds in the broader cryptocurrency market. The sell-off to $1.33, the token’s intraday low, can be attributed to macroeconomic uncertainty, geopolitical tensions and risk-averse sentiment among other factors.