EUR/JPY Price Analysis: A move to 122.40 is now on the cards

EUR/JPY extends the downside to the vicinity of 123.00.
Risks of a deeper pullback stay well in the pipeline.

Pablo Piovano FXStreet

EUR/JPY accelerates the leg lower and drops for yet another session on Friday. The cross has so far managed well to meet support near 120.00 the figure.

If the selling impetus picks up extra pace, then the cross is expected to meet the next relevant contention area around 122.40, where sits the September’s low. Further south comes in the critical 200-day SMA just above 121.00 the figure.

Above this zone, the outlook on the cross is expected to remain constructive.

EUR/JPY daily chart

EUR/JPY

Overview
Today last price	123.33
Today Daily Change	35
Today Daily Change %	-0.10
Today daily open	123.45

Trends
Daily SMA20	123.75
Daily SMA50	124.77
Daily SMA100	123.39
Daily SMA200	121.09

Levels
Previous Daily High	123.78
Previous Daily Low	123.02
Previous Weekly High	125.09
Previous Weekly Low	123.32
Previous Monthly High	127.08
Previous Monthly Low	122.38
Daily Fibonacci 38.2%	123.31
Daily Fibonacci 61.8%	123.49
Daily Pivot Point S1	123.05
Daily Pivot Point S2	122.66
Daily Pivot Point S3	122.3
Daily Pivot Point R1	123.81
Daily Pivot Point R2	124.17
Daily Pivot Point R3	124.57

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 remains offered below 1.1600, seems vulnerable near multi-month low

The EUR/USD pair struggles to capitalize on the overnight bounce from the 1.1530 region, or the lowest level since November 2025, and lower for the third consecutive day on Wednesday. Spot prices slide back below the 1.1600 mark during the Asian session and seem vulnerable to slide further.

GBP/USD slips below key averages as geopolitical risks mount

GBP/USD fell about 0.35% on Tuesday, settling around 1.3350 after slipping below the 200-day Exponential Moving Average for the first time since early December. The pair has pulled back sharply from its late-January high near 1.3870, shedding over 500 pips in a series of lower highs and lower lows.

Gold rebounds ahead of US ADP, will it last?

Gold finds renewed Asian bids and retests $5,230 early Wednesday after the heavy sell-off on Tuesday. The US Dollar stands tall amid escalating Middle East tensions and reduced dovish Fed expectations. Gold defends $5,000 or 50% Fibo level after facing rejection at the 78.6% Fibo resistance at $5,342 amid bullish RSI.

Bitcoin, Ethereum and Ripple struggle for direction as consolidation persists

Bitcoin, Ethereum and Ripple prices trade with a cautious tone at the time of writing on Wednesday as upside momentum continues to fade across the broader crypto market. BTC remains within a parallel channel, ETH struggles below key resistance, while XRP remains fragile within a descending channel. These top three cryptocurrencies by market capitalization continue to struggle to establish a directional bias amid the consolidation phase.

Energy shock 2.0: Why rising Gas prices could hit the Euro

Even without a confirmed, sustained disruption, the mere risk to a key global energy chokepoint is enough to inject a significant premium into European Gas markets. And for the Euro, that matters.

Ripple falters amid sell-off jitters and negative funding rates

Ripple (XRP) has come under pressure, drifting lower to $1.35 at the time of writing on Tuesday. The over 2% correction looks poised to erase the previous day’s gains, which lifted the remittance token to $1.42.