EUR/JPY Price Analysis: Hits fresh 15-year peak post-BoJ, bulls turn cautious amid overbought RSI

EUR/JPY regains positive traction on Friday and jumps to a fresh 15-year peak.
The BoJ’s decision to stand pat weigh on the JPY and provides a goodish boost.
The ECB’s hawkish outlook remains supportive of the move and favours bulls.

Haresh Menghani FXStreet

The EUR/JPY cross attracts some dip-buying near the 153.00 mark during the Asian session on Friday and hits a fresh 15-year top in reaction to the Bank of Japan (BoJ) policy decision. The cross is currently placed just below the 154.00 round-figure mark and seems poised to build on its recent upward trajectory witnessed over the past month or so.

The Japanese Yen (JPY) weakens across the board after the BoJ, as was widely expected, stuck to its dovish stance and left its ultra-loose policy settings unchanged at the end of the June monetary policy meeting this Friday. This marks a big divergent in comparison to the European Central Bank's (ECB) hawkish 25 bps lift-off on Thursday, which continues to underpin the shared currency and remains supportive of the bid tone surrounding the EUR/JPY cross.

From a technical perspective, this week's sustained strength beyond the 151.00 horizontal barrier was seen as a key trigger for bullish traders. The subsequent move up validates the breakout, though the extremely overbought Relative Strength Index (RSI) on the daily chart makes it prudent to wait for some near-term consolidation or a modest pullback before positioning for any further move up. Nevertheless, the EUR/JPY cross remains on track to register strong weekly gains.

In the meantime, the 153.55 region now seems to protect the immediate downside ahead of the daily swing low, around the 153.00 mark. Some follow-through selling below the 152.80 zone might prompt some long-unwinding trade and accelerate the corrective decline towards the 152.00 round figure. Any further downfall, however, is likely to attract fresh buyers and remain cushioned near the previous YTD peak, around the 151.60 region touched in May.

EUR/JPY daily chart

Key levels to watch

EUR/JPY

Overview
Today last price	153.72
Today Daily Change	0.14
Today Daily Change %	0.09
Today daily open	153.58

Trends
Daily SMA20	150.14
Daily SMA50	148.68
Daily SMA100	145.75
Daily SMA200	144.43

Levels
Previous Daily High	153.69
Previous Daily Low	151.62
Previous Weekly High	150.44
Previous Weekly Low	148.63
Previous Monthly High	151.62
Previous Monthly Low	146.14
Daily Fibonacci 38.2%	152.9
Daily Fibonacci 61.8%	152.41
Daily Pivot Point S1	152.24
Daily Pivot Point S2	150.89
Daily Pivot Point S3	150.17
Daily Pivot Point R1	154.31
Daily Pivot Point R2	155.03
Daily Pivot Point R3	156.38

Author

Haresh Menghani

FXStreet

Haresh Menghani is a detail-oriented professional with 10+ years of extensive experience in analysing the global financial markets.

EUR/USD climbs to daily highs near 1.1820

EUR/USD now picks up pace and advances to the area of daily peaks north of the 1.1800 barrier at the end of the week. The pair’s decent move higher comes against the backdrop of a generalised lack of direction in the FX galaxy and the mild offered stance in the US Dollar.

GBP/USD trims losses, retests 1.3460

After briefly challenging its key 200-day SMA near 1.3440, GBP/USD now manages to regain some balance and revisit the 1.3460 zone on Friday. Cable’s pullback comes as the selling pressure on the Greenback gathers traction, reigniting some recovery in the risk-linked space.

Gold flirts with four-week highs past $5,200

Gold extends its rebound, climbing for a third consecutive session and pushing back above the $5,200 mark per troy ounce on Friday. The move higher continues to draw support from lingering geopolitical tensions and the ongoing uncertainty surrounding US trade policy, both of which are keeping safe-haven demand firmly 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.

US and Israel attack Iran, risk aversion to sweep global markets

Early Saturday, United States President Donald Trump announced that the US had begun “major combat operations” in Iran, following Israel’s pre-emptive missile attacks against Tehran. The US bombed multiple locations in Tehran, Iran’s Tasnim news agency reported. Israel’s Prime Minister Benjamin Netanyahu said that the attacks on Iran were aimed to remove an “existential threat”.

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.