EUR/JPY Price Analysis: Slumps and breaks key support, sellers’ eye 161.00

EUR/JPY falls 0.80% to 162.00, reacting to BoJ's hawkish comments and soft EU inflation data.
Technical analysis indicates crucial support and resistance levels, highlighting immediate market sensitivities.
Further decline eyed with key supports at 161.75 and 161.00, unless buyers reclaim higher resistance points.

Christian Borjon Valencia FXStreet

The EUR/JPY snaps two days of gains and drops on Thursday, following hawkish remarks by a Bank of Japan (BoJ) official. That and soft inflation data from countries in the Eurozone (EU) area are driving the cross-pair price action ahead of the Wall Street close. At the time of writing, the pair exchanged hands at 162.00, down 0.80%.

EUR/JPY Price Analysis: Technical outlook

The pair fell below 162.59, the Tenkan-Sen level, and slumped below the 162.00 figure, hitting a daily low of 161.68. However, the EUR/JPY recovered and reclaimed 162.00, though downside risks remain. If sellers achieve a daily close below 162.00, further weakness lies ahead. The next support would be the Senkou Span A at 161.75, followed by the 161.00 mark, and the Kijun Sen at 160.90.

Conversely, if buyers stepped in, stir resistance lies at 164.00, but firstly, they need to conquer the Tenkan-Sen at 162.59 before the 163.00 mark.

EUR/JPY Price Action – Daily Chart

EUR/JPY TECHNICAL LEVELS

Overview
Today last price	162.01
Today Daily Change	-1.31
Today Daily Change %	-0.80
Today daily open	163.32

Trends
Daily SMA20	161.45
Daily SMA50	159.8
Daily SMA100	159.74
Daily SMA200	157.9

Levels
Previous Daily High	163.41
Previous Daily Low	162.76
Previous Weekly High	163.47
Previous Weekly Low	161.48
Previous Monthly High	161.87
Previous Monthly Low	155.07
Daily Fibonacci 38.2%	163.16
Daily Fibonacci 61.8%	163.01
Daily Pivot Point S1	162.91
Daily Pivot Point S2	162.51
Daily Pivot Point S3	162.26
Daily Pivot Point R1	163.57
Daily Pivot Point R2	163.81
Daily Pivot Point R3	164.22

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 advances above 1.1800 ahead of German inflation data

EUR/USD stretches higher above 1.1800 in the European session on Friday, helped by sustained US Dollar weakness. Attention now turns toward the release of the preliminary inflation data for February from Germany and its major states during the day.

GBP/USD struggles near 1.3500 amid UK political drama, BoE easing bias

GBP/USD struggles to build on the overnight modest bounce from the weekly low and oscillates in a narrow band near 1.3500 in European trading on Friday. The Gorton and Denton by-election, held on February 26, has become a focal point of political drama in the UK, along with the Bank of England (BoE) easing expectations, acts as a headwind for the British Pound and the GBP/USD pair.

Gold flat lines below $5,200; traders look to US PPI for fresh impetus

Gold struggles to capitalize on its modest gains registered over the past two days and trades below the $5,200 mark through the first half of the European session on Friday. Geopolitical risks remain in play amid a large US naval and air power buildup in the Middle East.

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.