EUR/JPY Price Analysis: Rebound now targets the 122.00 area

EUR/JPY’s rebound to multi-day highs comes along the risk-on mood.
Immediately to the upside emerges the key 122.00 hurdle.

Pablo Piovano FXStreet

EUR/JPY advances to multi-day peaks in well past the 121.00 yardstick at the beginning of the week, always on the back of the improved sentiment in the risk complex.

If bull manage to push higher, then the next hurdle of relevance will be at the mid-June tops in the 122.00 neighbourhood.

As long as the cross is above the 200-day SMA in the 119.60 region, the outlook on the cross is seen as constructive. This contention area is also reinforced by June’s lows in the 119.30 region.

EUR/JPY daily chart

EUR/JPY

Overview
Today last price	121.54
Today Daily Change	86
Today Daily Change %	0.52
Today daily open	120.91

Trends
Daily SMA20	120.84
Daily SMA50	118.98
Daily SMA100	118.83
Daily SMA200	119.69

Levels
Previous Daily High	121.04
Previous Daily Low	120.61
Previous Weekly High	121.48
Previous Weekly Low	120.05
Previous Monthly High	124.43
Previous Monthly Low	119.32
Daily Fibonacci 38.2%	120.87
Daily Fibonacci 61.8%	120.77
Daily Pivot Point S1	120.67
Daily Pivot Point S2	120.43
Daily Pivot Point S3	120.25
Daily Pivot Point R1	121.09
Daily Pivot Point R2	121.28
Daily Pivot Point R3	121.52

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 flat lines near 1.1800 as traders brace for US PPI release

The EUR/USD pair trades on a flat note near 1.1800 during the early Asian session on Friday. The pair steadies as softer Eurozone inflation offsets US tariff uncertainties. Traders await the preliminary reading of the Consumer Price Index from Germany on Friday for more clues about the pace of future policy easing. On the US front, the Producer Price Index report will be released.

GBP/USD threatens the 200-day SMA near 1.3440

GBP/USD rapidly leaves behind Wednesday’s strong advance, coming under heavy pressure and retesting the 1.3440 zone, where the critical 200-day SMA is located. Cable’s deep pullback follows the strong gains in the Greenback, while investors continue to pencil in a potential BoE rate cut in March.

Gold remains below $5,200 despite tariff jitters and geopolitical risks

Gold is seen consolidating in a range below the $5,200 mark during the Asian session on Friday amid mixed cues. Trade jitters, along with the risk of a potential US-Iran war, act as a tailwind for the safe-haven bullion. Meanwhile, the Fed's hawkish outlook keeps the US Dollar close to the monthly high and caps the non-yielding yellow metal. Nevertheless, the commodity remains on track to register gains for the fourth straight week, though the fundamental backdrop warrants some caution for bullish traders.

Top Crypto Gainers: Stable and Decred rally, Pippin approaches record highs

Altcoins, such as Stable, Decred, and Pippin, are extending gains so far this week, defying the risk-averse conditions in the broader cryptocurrency market. Stable and Pippin are near record high levels, while Decred extends its breakout rally above $30.

Changing the game: International implications of recent tariff developments

The Supreme Court ruling on International Emergency Economic Powers Act (IEEPA) tariffs provides limited relief for the rest of the world, with weighted average tariff rates modestly lower.

Bitcoin steadies as traders eye US–Iran talks

Bitcoin (BTC) price is stabilizing around $68,000 at the time of writing on Thursday after a 6.2% relief rally the previous day amid a broader downward trend.