EUR/JPY Price Analysis: Upside target remains at the 2022 high

EUR/JPY regains poise and reclaims part of the ground lost on Thursday.

Immediately to the upside comes the YTD high at 148.40.EUR/JPY resumes the upside and surpasses the 147.00 barrier at the end of the week.

Considering the current price action, there is still chances for the cross to advance further in the short-term horizon. That said, the immediate up barrier now emerges at the 2022 high at 148.40 (October 21) ahead of the December 2014 top at 149.78 (December 8).

In the short term the upside momentum is expected to persist while above the October lows near 141.00.In the longer run, while above the key 200-day SMA at 137.27, the constructive outlook is expected to remain unchanged.

EUR/USD recovers modestly, trades near 0.9950

EUR/USD has managed to erase a portion of its daily losses following the mixed sentiment data from the euro area. Ahead of the key PCE inflation report from the US, however, the pair is struggling to pull away from 0.9950 as investors keep a close eye on ECB headlines. 


GBP/USD tries to stabilize above 1.1500

GBP/USD is trading on the back foot at around 1.1500 in the European session. The greenback holds its ground following Thursday’s GDP-inspired rebound and doesn’t allow the pair to stage a rebound. Eyes on US PCE Price Index data for September.


Gold extends slide toward $1,650 as US yields rebound

Gold stays under bearish pressure and trades deep in negative territory near $1,650 on Friday. The benchmark 10-year US Treasury bond yield is up more than 1% on the day following Thursday’s slide, making it difficult for XAU/USD to gain traction.

Gold News 

Elrond projects a 15% crash after an explosive run

Elrond price has hit a dead end after the recent rally locked horns with a four-month resistance level. Lack of buying pressure coupled with the exhaustion of buyers could be key in triggering a pullback for EGLD. 

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