EUR/JPY Price Analysis: Downside pressure stays in place so far

EUR/JPY’s retracement met support in the 122.80 region so far.
Immediately to the downside appears September’s lows near 122.40.

Pablo Piovano FXStreet

EUR/JPY looks to put further distance from weekly lows near 122.80 (Thursday), although a serious bullish attempt lacks conviction for the time being.

In the meantime, odds for a move lower remain well on the cards with the next support of note at the September’s lows in the 122.40 zone. If breached, then a re-visit to the so far monthly lows in the 121.60 region should not be ruled out in the short-term horizon.

The downside pressure is expected to accelerate if EUR/JPY breaks below the latter, exposing the key 200-day SMA, today at 121.38.

EUR/JPY daily chart

EUR/JPY

Overview
Today last price	123.26
Today Daily Change	42
Today Daily Change %	-0.01
Today daily open	123.27

Trends
Daily SMA20	123.23
Daily SMA50	123.68
Daily SMA100	123.98
Daily SMA200	121.39

Levels
Previous Daily High	123.32
Previous Daily Low	122.85
Previous Weekly High	125.14
Previous Weekly Low	122.68
Previous Monthly High	125.09
Previous Monthly Low	121.62
Daily Fibonacci 38.2%	123.14
Daily Fibonacci 61.8%	123.03
Daily Pivot Point S1	122.97
Daily Pivot Point S2	122.67
Daily Pivot Point S3	122.49
Daily Pivot Point R1	123.44
Daily Pivot Point R2	123.62
Daily Pivot Point R3	123.92

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 struggles aroound 1.1800 as USD stabilizes

EUR/USD stays defensive around 1.1800 in the European session on Thursday. The US Dollar stabilizes, following the recent decline led by tariff uncertainty, capping the pair's upside. All eyes now remain on the US-Iran nuclear talks after ECB President Lagarde's testimony fails to impress Euro bulls.

GBP/USD drops toward 1.3500 as USD finds fresh demand

GBP/USD falls back toward 1.3500 in the European session on Thursday, snapping its recovery momentum. The pair loses traction as the US Dollar finds fresh demand, as markets turn cautious ahead of the US-Iran nuclear talks. The US trade policy uncertainty also remains a drag on risk sentiment.

Gold clings to gains amid sustained safe-haven flows ahead of US-Iran talks

Gold sticks to its modest intraday gains through the first half of the European session on Thursday, with bulls still awaiting a sustained move and acceptance above the $5,200 mark before placing fresh bets.

Stellar: Relief bounce fades as bearish undertone persists

Stellar is trading around $0.16 at the time of writing on Thursday after rebounding more than 8% in the previous day. Derivatives data paints a negative picture as XLM’s short bets hit a monthly high while Open Interest continues to decline.

Nvidia delivers another monster earnings report, and forecasts big things to come

It was another monster earnings report from Nvidia for fiscal Q4. Revenues were $68.1bn, smashing estimates of $65bn. Gross profit margin was a healthy 75%, up from 73.5% in the prior quarter, and the outlook for this quarter was monstrous.

Solana strikes key resistance with double-digit gains

Solana trades at $88 at press time on Thursday, after an 11% upswing the previous day within a broader consolidation range of roughly three weeks. Institutional demand for Solana heightens as US spot SOL Exchange Traded Funds record $30 million of inflow on Wednesday.