EUR/JPY drops to daily lows near 120.40 ahead of data

EUR/JPY loses momentum near 120.40.
Weekly upside capped around the 121.00 handle.
US Payrolls coming up next on the docket.

Pablo Piovano FXStreet

The selling mood around the single currency coupled with the renewed demand for the Japanese yen are dragging EUR/JPY to daily lows in the 120.40 area.

EUR/JPY focused on US calendar

The cross appears to have resumed the downside on Friday following two consecutive daily advances and Monday’s rejection from the key 121.00 neighbourhood, which remains a tough barrier ahead of the resistance area in the mid-121.00s.

In fact, sellers have now regained control and are weighing on the sentiment surrounding the single currency, all against the backdrop of the moderate recovery in the greenback.

In the meantime, the Japanese safe-haven continues to gather steam in tandem with declining US yields.

Earlier in the session, German Industrial Production contracted at a monthly 1.7% during October, coming in short of forecasts. Later in the NA session, investors will closely follow another monthly report of the US labour market. Consensus expects the economy to have added more than 180K jobs during last month and the jobless rate to remain unchanged at 3.6%.

EUR/JPY relevant levels

At the moment the cross is losing 0.26% at 120.45 and a breach of 120.09 (monthly low Dec.4) would expose 119.77 (55-day SMA) and finally 119.65 (low Nov.25). On the flip side, the next up barrier is located at 121.01 (monthly high Dec.2) seconded by 121.46 (200-day SMA) and then 121.47 (monthly high Oct.31).

Author

Pablo Piovano

FXStreet

Born and bred in Argentina, Pablo has been carrying on with his passion for FX markets and trading since his first college years.

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.

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

Early Saturday, United States (US) President Donald Trump announced that the US had begun “major combat operations” in Iran, following Israel’s pre-emptive missile attacks against Tehran.

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.