EUR/JPY Price Analysis: Extra losses likely near-term

EUR/JPY looks offered and challenges 133.00.
The 132.50 area should offer decent contention.

Pablo Piovano FXStreet

EUR/JPY drops to new multi-day lows in the vicinity of the 133.00 neighbourhood at the beginning of the week.

If the selling pressure gathers extra steam, then the cross could attempt a deeper pullback to, initially, the weekly lows near 132.50 (May 24). Further south comes in the 131.60/50 region, where coincides the 50-day SMA and the short-term support line.

In the broader picture, while above the 200-day SMA at 127.27 the broader outlook for the cross should remain constructive.

EUR/JPY daily chart

EUR/JPY

Overview
Today last price	133.06
Today Daily Change	39
Today Daily Change %	-0.14
Today daily open	133.25

Trends
Daily SMA20	133.06
Daily SMA50	131.58
Daily SMA100	129.75
Daily SMA200	127.28

Levels
Previous Daily High	133.82
Previous Daily Low	133.14
Previous Weekly High	134.13
Previous Weekly Low	133.14
Previous Monthly High	134.06
Previous Monthly Low	130.98
Daily Fibonacci 38.2%	133.4
Daily Fibonacci 61.8%	133.56
Daily Pivot Point S1	132.99
Daily Pivot Point S2	132.72
Daily Pivot Point S3	132.31
Daily Pivot Point R1	133.66
Daily Pivot Point R2	134.08
Daily Pivot Point R3	134.34

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 challenges 1.1800, two-week lows

EUR/USD remains on the defensive, extending its leg lower to the vicinity of the 1.1800 region, or two-week lows, on Tuesday. The move lower comes as the US Dollar gathers further traction ahead of key US data releases, inclusing the FOMC Minutes, on Wednesday.

GBP/USD looks weaker near 1.3500

GBP/USD adds to Monday’s pessimism and puts the 1.3500 support to the test on Tuesday. Cable’s marked pullback comes in response to extra gains in the Greenback while disappointing UK jobs data also collaborate with the offered bias around the British Pound.

Gold loses further momentum, approaches $4,800

Gold recedes to fresh two-week troughs around the $4,800 region per troy ounce on Tuesday. The precious metal builds on Monday’s downtick following a marked rebound in the US Dollar and mixed US Treasury yields across the board.

Crypto Today: Bitcoin, Ethereum, XRP upside looks limited amid deteriorating retail demand

The cryptocurrency market extends weakness with major coins including Bitcoin (BTC), Ethereum (ETH) and Ripple (XRP) trading in sideways price action at the time of writing on Tuesday.

UK jobs market weakens, bolstering rate cut hopes

In the UK, the latest jobs report made for difficult reading. Nonetheless, this represents yet another reminder for the Bank of England that they need to act swiftly given the collapse in inflation expected over the coming months.

Ripple slides to $1.45 as downside risks surge

Ripple edges lower at the time of writing on Tuesday, from the daily open of $1.48, as headwinds persist across the crypto market. A short-term support is emerging at $1.45, but a buildup of bearish positions could further weaken the derivatives market and prolong the correction.